Question
Corner Store Industries has annual sales of $662,070 and cost of goods sold of $494,160. The profit margin is 4.4 percent and the accounts payable
Corner Store Industries has annual sales of $662,070 and cost of goods sold of $494,160. The profit margin is 4.4 percent and the accounts payable period is 29 days. What is the average accounts payable balance?
Multiple Choice
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$52,603
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$55,488
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$39,262
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$40,616
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$38,046
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Investment Analysis And Portfolio Management
Authors: Frank K. Reilly, Peggy L. Hedges, Philip Chang, Keith C. Brown, Hedges Reilly Brown
1st Canadian Edition
0176500693, 978-0176500696
