HG Livery Supply had a beginning accounts payable balance of $57,300 and an ending accounts payable balance of $55,100.Sales for the period were $610,000 and costs of goods sold were $458,000.What is the payables turnover rate?
A) 8.15 times
B) 8.39 times
C) 9.02 times
D) 9.86 times
E) 10.85 times
Correct Answer:
Verified
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