The Following Company Information Is Available What Is the Company's Accounts Payable Turnover Ratio? (Round Your

question 104

Multiple Choice

The following company information is available: $$\begin{array} { | l | r | } \hline \text { Average accounts receivable } & \$ 100,000 \\\hline \text { Average inventories } & 150,000 \\\hline \text { Average accounts payable } & 140,000 \\\hline \text { Net sales } & 2,000,000 \\\hline \text { Cost of goods sold } & 1,400,000 \\\hline \text { Purchases } & 1,160,000 \\\hline\end{array}$$
What is the company's accounts payable turnover ratio? (Round your answer to one decimal place, X.X.)

• A) 20.0
• B) 14.3
• C) 8.3
• D) 10.0