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Need some help with this homework problem! Calculating the Days' Payable Period. The following information is taken from the annual report of Coca-Cola Enterprises, Inc.:
Need some help with this homework problem!
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 13,385 12,971 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 Accounts payable turnover Days'payable period Is Coca-Cola Enterprises taking longer to pay its accounts payable to its suppliers? Do the ratios indicate that the company's credit risk is increasingStep by Step Solution
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