ABC Manufacturing has annual sales of $850,000 and a cost of goods sold (COGS) of $425,000. The company's accounts payable period is 45 days. What is the average accounts payable balance? a) $47,260 b) $48,630 c) $52,055 d) $52,397

ABC Manufacturing has annual sales of $850,000 and a cost of goods sold (COGS) of $425,000. The company's accounts payable period is 45 days. What is the average accounts payable balance? a) $47,260 b) $48,630 c) $52,055 d) $52,397

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 2P: Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers...

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Need help with this question solution general accounting

ABC Manufacturing has annual sales of $850,000 and a cost of goods sold (COGS) of
$425,000. The company's accounts payable period is 45 days.
What is the average accounts payable balance?
a) $47,260
b) $48,630
c) $52,055
d) $52,397

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