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Apple Inc. reported in its 2011 financial statements the following numbers: Table 3 Item Amount (in millions) Total revenue 108,000 Cost of revenue 64,400 Inventory
Apple Inc. reported in its 2011 financial statements the following numbers:
Item | Amount (in millions) |
---|---|
Total revenue | 108,000 |
Cost of revenue | 64,400 |
Inventory | 776 |
Account receivables | 13,700 |
Account payable | 23,900 |
Suppose the total credit purchases are $50,000 mi., what is the average payment period (APP)?
APP = days
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