Dexter, Incorporated, had a cost of goods sold of $43,921. At the end of the year, theaccounts payable balance was $7,943. How long on average did it take the company topay off its suppliers during the year? (Use 365 days a year. Do not round intermediatecalculations and round your answer to 2 decimal places, e.g., 32.16.)

The payable turnover ratio is a financial ratio used to measure a company's efficiency in managing…

Answered: Dexter, Incorporated, had a cost of…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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