Homework answers / question archive / Given the following information, how many times does the firm turnover its Accounts Payable during the year? Beginning inventory = $50,000 Ending inventory = $45,000 Beginning Accounts Receivable = $60,000 Ending Accounts Receivable = $66,000 Beginning Accounts Payable = $70,000 Ending Accounts Payable = $84,000 Sales = $1,000,000 % credit sales = 60% Cost of goods sold = $450,000

Given the following information, how many times does the firm turnover its Accounts Payable during the year? Beginning inventory = $50,000 Ending inventory = $45,000 Beginning Accounts Receivable = $60,000 Ending Accounts Receivable = $66,000 Beginning Accounts Payable = $70,000 Ending Accounts Payable = $84,000 Sales = $1,000,000 % credit sales = 60% Cost of goods sold = $450,000

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Given the following information, how many times does the firm turnover its Accounts Payable during the year?

Beginning inventory = $50,000

Ending inventory = $45,000

Beginning Accounts Receivable = $60,000

Ending Accounts Receivable = $66,000

Beginning Accounts Payable = $70,000

Ending Accounts Payable = $84,000

Sales = $1,000,000

% credit sales = 60%

Cost of goods sold = $450,000