Question
Famous Abe's payables deferral period (PDP) is 61 days (on a 365-day basis), accounts payable are $250 million and its balance sheet shows inventory of
Famous Abe's payables deferral period (PDP) is 61 days (on a 365-day basis), accounts payable are $250 million and its balance sheet shows inventory of $312.5 million. What is the inventory turnover ration?
A. 3.64%
B. 5.28%
C. 4.79%
D. 5.89%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
