Given the Following Information,calculate the Payables Turnover and Days' Payable

question 47

Essay

Given the following information,calculate the payables turnover and days' payable.Round answers to two decimal places.

$$\begin{array} { l r } \text { Net sales } & \$ 10,000,000 \\\text { Cost of goods sold } & 8,321,000 \\\text { Operating expenses } & 3,000,000 \\\text { Inventory increase } & 125,000 \\\text { Accounts payable, beginning } & 1,617,000 \\\text { Accounts payable, ending } & 1,415,000\end{array}$$

a. Payables turnover
b. Days' payable

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Definitions:

Aggressive

Pertaining to behavior or attitudes that demonstrate hostility or the intent to confront others.

Synchronicity

An acausal connecting principle in which things go together but are not causally linked.

Jungian

Pertaining to the theories and concepts developed by Carl Jung, particularly in relation to the collective unconscious and archetypes.

Archetype

A universally recognized symbol or character that recurs across cultures and literature, representing common patterns of human life.