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Calculating the Days' Payable Period. The following information is taken from the annual report of Coca-Cola Enterprises, Inc.: (amounts in millions) Year 2 Year 1
Calculating the Days' Payable Period. The following information is taken from the annual report of Coca-Cola Enterprises, Inc.: (amounts in millions) Year 2 Year 1 Net revenue $18,706 $18,158 Cost of goods sold 12,585 12,171 Inventories 786 763 Accounts payable 2,639 2,708 Using this information, calculate the accounts payable turnover ratio and the days' payable period for Year 1 and Year 2. Do not round until your final answer. Round all answers to nearest one decimal place. Year 2 Year 1 4.7 x 4.6 x Accounts payable turnover Days' payable period 77.5 X 80.2 x
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