Glenmore Enterprises has cost of goods sold of $670,000, ending inventory of $115,000, beginning inventory of $135,000, and average accounts payable of $140,000 as of December 31st. What is the accounts payable turnover? a. 4.79 b. 5.81 c. 4.29 d. 6.15

Glenmore Enterprises has cost of goods sold of $670,000, ending inventory of $115,000, beginning inventory of $135,000, and average accounts payable of $140,000 as of December 31st. What is the accounts payable turnover? a. 4.79 b. 5.81 c. 4.29 d. 6.15

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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Question

What is the accounts payable turnover on these general accounting question?

Glenmore Enterprises has cost of goods sold of $670,000,
ending inventory of $115,000, beginning inventory of $135,000,
and average accounts payable of $140,000 as of December
31st. What is the accounts payable turnover?
a. 4.79
b. 5.81
c. 4.29
d. 6.15

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