Question: Calculating Average Payables Period Minnow, Inc., had a cost of goods sold of $21.587. At the end of the year, the accounts payable balance was

Calculating Average Payables Period Minnow, Inc., had a cost of goods sold of $21.587. At the end of the year, the accounts payable balance was $5,832. How long on average did it take the company to pay off its suppliers during the year? What might a large value for this ratio imply?

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