The following figures appear on LaGrange’s financial statements for the most recent fiscal year: Cost of Goods Sold $1,960,000 Beginning Inventory 238,000 Ending Inventory 278,000 Accounts Payable 182,000 What is the age of this company’s accounts payable? Responses 33.2 days 35.3 days 34.7 days 33.9 days
The following figures appear on LaGrange’s financial statements for the most recent fiscal year: Cost of Goods Sold $1,960,000 Beginning Inventory 238,000 Ending Inventory 278,000 Accounts Payable 182,000 What is the age of this company’s accounts payable? Responses 33.2 days 35.3 days 34.7 days 33.9 days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following figures appear on LaGrange’s financial statements for the most recent fiscal
year:
Cost of Goods Sold $1,960,000
Beginning Inventory 238,000
Ending Inventory 278,000
Accounts Payable 182,000
What is the age of this company’s accounts payable?
Responses
-
33.2 days
-
35.3 days
-
34.7 days
-
33.9 days
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