Question: On December 31st Dalton, Inc has cost of goods sold of $550,000, ending inventory is $102,000, beginning inventory is $120,000, and average accounts payable is $114,000. What is the accounts payable turnover?

Managerial Accounting: The Cornerstone of Business Decision-Making
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Chapter15: Financial Statement Analysis
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Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...
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Question:
On December 31st Dalton, Inc has cost of goods sold of
$550,000, ending inventory is $102,000, beginning
inventory is $120,000, and average accounts payable is
$114,000. What is the accounts payable turnover?
Transcribed Image Text:Question: On December 31st Dalton, Inc has cost of goods sold of $550,000, ending inventory is $102,000, beginning inventory is $120,000, and average accounts payable is $114,000. What is the accounts payable turnover?
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