On December 31st, Jackson Manufacturing has cost of goods sold of $450,000, ending inventory of $85,000, beginning inventory of $95,000, and average accounts payable of $120,000. What is the accounts payable turnover?

On December 31st, Jackson Manufacturing has cost of goods sold of $450,000, ending inventory of $85,000, beginning inventory of $95,000, and average accounts payable of $120,000. What is the accounts payable turnover?

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

Please explain the solution to this financial accounting problem using the correct financial principles.

On December 31st, Jackson Manufacturing has cost of goods sold of $450,000, ending
inventory of $85,000, beginning inventory of $95,000, and average accounts payable
of $120,000.
What is the accounts payable turnover?

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