Nashville Company reported the cost of goods sold of $750,000 last year and $780,000 this year. Nashville also reported accounts payable of $270,000 last year and $260,000 this year. Compute this year's accounts payable turnover ratio for Nashville. Help me with this

Nashville Company reported the cost of goods sold of $750,000 last year and $780,000 this year. Nashville also reported accounts payable of $270,000 last year and $260,000 this year. Compute this year's accounts payable turnover ratio for Nashville. Help me with this

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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For its most recent year, a certain company had sales (all on credit) of $830,000 and cost of goods sold of $525,000. At the beginning of the year, its accounts receivable were $80,000 and its inventory was $100,000. At the end of the year, its accounts receivable were $86,000 and its inventory was $110,000. What is the accounts receivable turnover ratio for the year? a. 6.3 b. 7.5 c. 10.0
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For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At the beginning of the year its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000. Calculate (i) the inventory turnover ratio for the year (ii) accounts receivable turnover ratio for the year (iii) the average days of sales were in Accounts Receivable during the year (iv) average days of sales in Inventory during the year.
For its most recent year, a company had Sales (all on credit) of $830,000 and a Cost of Goods Sold of $525,000. At the beginning of the year, its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year, its Accounts Receivable were $86,000 and its Inventory was $110,000. The inventory turnover ratio for the year was: a. 4.8 b. 5.0 c. 7.9