Given the following information, calculate the payables turnover and days' payable. Round answers to two decimal places.
a. Payables turnover
b. Days' payable
$$\begin{array} { l r }
\text { Net sales } & \$ 10,000,000 \
\text { Cost of goods sold } & 8,321,000 \
\text { Operating expenses } & 3,000,000 \
\text { Inventory increase } & 125,000 \
\text { Accounts payable, beginning } & 1,617,000 \
\text { Accounts payable, ending } & 1,415,000
\end{array}$$

Question

Given the following information, calculate the payables turnover and days' payable. Round answers to two decimal places.
a. Payables turnover
b. Days' payable 
 $$\begin{array} { l r } 
\text { Net sales } & \$ 10,000,000 \
\text { Cost of goods sold } & 8,321,000 \
\text { Operating expenses } & 3,000,000 \
\text { Inventory increase } & 125,000 \
\text { Accounts payable, beginning } & 1,617,000 \
\text { Accounts payable, ending } & 1,415,000
\end{array}$$

Quizplus · Accepted Answer

The Answer of Given the following information, calculate the payables turnover and days' payable. Round answers to two decimal places.
a. Payables turnover
b. Days' payable 
 $$\begin{array} { l r } 
\text { Net sales } & \$ 10,000,000 \
\text { Cost of goods sold } & 8,321,000 \
\text { Operating expenses } & 3,000,000 \
\text { Inventory increase } & 125,000 \
\text { Accounts payable, beginning } & 1,617,000 \
\text { Accounts payable, ending } & 1,415,000
\end{array}$$

Given the Following Information, Calculate the Payables Turnover and Days