A Company Had Accounts Payable at the Beginning of the Year

question 14

Multiple Choice

A company had accounts payable at the beginning of the year of $63,000 and at the end of the year of $69,000.Inventory at the beginning of the year was $102,000 and at the end of the year $118,000.Cost of sales for the year was $600,000.What was their accounts payable turnover ratio closest too?

• A)5.5 times
• B)9.1 times
• C)9.3 times
• D)12.4 times

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