Fido's Markets Has a Cash Cycle of 24 Days, an Operating

question 96

Multiple Choice

Fido's Markets has a cash cycle of 24 days, an operating cycle of 39 days, and an inventory period of 2.3 days.The company reported cost of goods sold in the amount of $465,250, and credit sales were $600,000.What is the company's average balance in accounts payable?

• A)$19,120
• B)$18,414
• C)$20,203
• D)$22,344
• E)$23,515

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Definitions:

Glottis

The part of the larynx consisting of the vocal cords and the slit-like opening between them, playing a key role in producing sounds.

Epiglottis

A cartilage structure shaped like a leaf, positioned behind the tongue, that seals the windpipe while swallowing to stop food from getting into the breathing passage.

Nasal Vestibule

The frontmost part of the nasal cavity, lined with skin and containing hair follicles, that filters larger particles from inhaled air.

Nasal Cavity

The large air-filled space above and behind the nose in the middle of the face, involved in breathing and the sense of smell.