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The balance of Lock Corporation's accounts payable at the beginning of the most recent year was $55,000. At the end of the year, the accounts

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The balance of Lock Corporation's accounts payable at the beginning of the most recent year was $55,000. At the end of the year, the accounts payable balance was $57,000. Lock's sales revenue for the year was $3,100,000, while its cost of goods sold for the year was $1,680,000. Calculate Lock's days' payable outstanding (DPO) for the year. Assume inventory levels are constant throughout the year. If the credit terms from Lock's suppliers are n/30, how would you interpret Lock's DPO? (Round the DPO to two decimal places, X.XX.) The balance of Lock Corporation's accounts payable at the beginning of the most recent year was $55,000. At the end of the year, the accounts payable balance was $57,000. Lock's sales revenue for the year was $3,100,000, while its cost of goods sold for the year was $1,680,000. Calculate Lock's days' payable outstanding (DPO) for the year. Assume inventory levels are constant throughout the year. If the credit terms from Lock's suppliers are n/30, how would you interpret Lock's DPO? (Round the DPO to two decimal places, X.XX.)

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