True Blue Stores had a beginning accounts payable balance of $56,900 and an ending accounts payable balance of $62,800.Sales for the period were $675,000 and costs of goods sold were $448,000.What is the payables turnover rate?
A) 6.98 times
B) 7.49 times
C) 8.23 times
D) 11.28 times
E) 12.01 times
Correct Answer:
Verified
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