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brookeboyd7469
20.09.2020 •
Business
Nelson Company reported cost of goods sold of $550,000 last year and $580,000 this year. Nelson also reported accounts payable of $300,000 last year and $280,000 this year. Compute this year's accounts payable turnover ratio for Nelson. (Round your answer to 1 decimal place.)
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Ответ:
3.00
Explanation:
Computation for this year's accounts payable turnover ratio for Nelson
Using this formula
Accounts payable turnover ratio=Cost of goods sold last year - Cost of goods sold this year /(Accounts payable last year -Accounts payable this year) ÷2
Let plug in the formula
Accounts payable turnover ratio=$550,000-$580,000/($300,000+$280,000) ÷2
Accounts payable turnover ratio=$30,000/$20,000÷2
Accounts payable turnover ratio=$30,000/$10,000
Accounts payable turnover ratio=3.00
Therefore this year's accounts payable turnover ratio for Nelson will be 3.00
Ответ: