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Given the following information, how many days, on average, does it take the firm to pay back its suppliers? Beginning inventory Ending inventory Beginning Accounts
Given the following information, how many days, on average, does it take the firm to pay back its suppliers? Beginning inventory Ending inventory Beginning Accounts Receivable = $60,000 Ending Accounts Receivable =$66,000 Beginning Accounts Payable $70,000 Ending Accounts Payable = $50,000 = $45,000 = $84,000 = $1,000,000 % Sales credit sales 60% = $450,000 Cost of goods sold 38.5 days 46.8 days 76.9 days 38.3 days 62.5 days
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