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S. Pumpkins has an average inventory of $630,000, with an annual turnover rate of eight times. The average accounts receivable balance is $520,250, and customers
S. Pumpkins has an average inventory of $630,000, with an annual turnover rate of eight times. The average accounts receivable balance is $520,250, and customers pay on average in 30 days. S. Pumpkins pays accounts in 45 days. a. Calculate S. Pumpkins' average accounts payable balance. (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Average accounts payable $ b. Calculate its annual sales. (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Annual sales $
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