Question
Visions designs, markets, and distributes audio and gaming headphones, earbuds, and speakers. Assume that last year, Visions reported cost of goods sold of $176
Visions designs, markets, and distributes audio and gaming headphones, earbuds, and speakers. Assume that last year, Visions reported cost of goods sold of $176 million. Assume that this year, cost of goods sold was $142 million. Accounts payable was $26 million at the end of last year and $24 million at the end of this year. Required: 1. For this year, compute the average number of days that Visions's accounts payable are outstanding. Note: Do not round Intermediate calculations and round your final answer to the nearest whole number. Use 365 days a year. Average number of days
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge
10th edition
1259964949, 1259964947, 978-1259964947
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