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mariarad [96]
2 years ago
8

On December​ 31st, Datton, Inc. has cost of goods sold of $ 550000​, ending inventory is $ 101000​, beginning inventory is $ 120

000​; and average accounts payable is $ 105000. What is the accounts payable turnover expressed as​ days? (Round any intermediary calculations to two decimal​ places, and round your final answer to the nearest​ day.) A. 72 B. 44 C. 117 D. 67
Business
1 answer:
Gnoma [55]2 years ago
5 0

Answer:

72 days

Explanation:

The computation of the accounts payable turnover ratio is shown below:

Accounts payable turnover ratio = Total Purchases ÷ Average Accounts payable

As we know that

Cost of goods sold =  Beginning inventory + total purchases - Ending inventory

i.e  

Total Purchases = Cost of goods sold + Ending Inventory – Beginning Inventory

= $550,000 + $101,000 - $120,000

= $531,000

So, the account payable turnover ratio is

= $531,000 ÷ $105,000

= 5.06 times

Now in days it is

= 365 days ÷ 5.06 times

= 72 days

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Under normal conditions (70% probability), Plan A will produce $20,000 higher return than Plan B. Under tight money conditions (
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A. ($16,000)

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3 years ago
Adventure Travel signed a​ 14%, 10-year note for​ $152,000. The company paid an installment of​ $2,200 for the first month. Afte
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5 0
2 years ago
Tulip Midwifery's cost formula for its wages and salaries is $2,420 per month plus $388 per birth. For the month of January, the
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3 0
2 years ago
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