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Consider the following financial statement information for the Hop Corporation: Item Beginning Ending Inventory $16,200 $19,100 Accounts Receivable 14,000 16,000 Accounts Payable 11,000 14,000 Net
Consider the following financial statement information for the Hop Corporation:
Item | Beginning |
| Ending |
Inventory | $16,200 |
| $19,100 |
Accounts Receivable | 14,000 |
| 16,000 |
Accounts Payable | 11,000 |
| 14,000 |
Net Sale |
| $219,000 |
|
COGS |
| 168,000 |
|
What is the payable period for Hop Corporation?
a. | 20.32 days | |
b. | 13.44 days | |
c. | 17.52 days | |
d. | 27.16 days |
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