Pine crest Trading Co. has a cost of goods sold of $800,000, ending inventory of $120,000, beginning inventory of $100,000, and average accounts payable of $150,000 as of December 31st. What is the accounts payable turnover? a. 5.33 b. 5.60 c. 5.20 d. 6.00

Pine crest Trading Co. has a cost of goods sold of $800,000, ending inventory of $120,000, beginning inventory of $100,000, and average accounts payable of $150,000 as of December 31st. What is the accounts payable turnover? a. 5.33 b. 5.60 c. 5.20 d. 6.00

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 46E

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Question

I need assistance with this financial accounting problem using valid financial procedures.

Pine crest Trading Co. has a cost of goods sold of $800,000, ending
inventory of $120,000, beginning inventory of $100,000, and average
accounts payable of $150,000 as of December 31st. What is the
accounts payable turnover?
a. 5.33
b. 5.60
c. 5.20
d. 6.00

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