Visions designs, markets, and distributes audio and gaming headphones, earbuds, and speakers. Assume that last year, Visions reported cost of goods sold of $156 million. Assume that this year, cost of goods sold was $115 million. Accounts payable was $23 million at the end of last year and $17 million at the end of this year. Required: 1. For this year, compute the average number of days that Visions's accounts payable are outstanding. Note: Do not round intermediate calculations and round your final answer to the nearest whole number. Use 365
Visions designs, markets, and distributes audio and gaming headphones, earbuds, and speakers. Assume that last year, Visions reported cost of goods sold of $156 million. Assume that this year, cost of goods sold was $115 million. Accounts payable was $23 million at the end of last year and $17 million at the end of this year. Required: 1. For this year, compute the average number of days that Visions's accounts payable are outstanding. Note: Do not round intermediate calculations and round your final answer to the nearest whole number. Use 365
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject - account
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Transcribed Image Text:Visions designs, markets, and distributes audio and gaming headphones, earbuds, and speakers. Assume that last year,
Visions reported cost of goods sold of $156 million. Assume that this year, cost of goods sold was $115 million. Accounts
payable was $23 million at the end of last year and $17 million at the end of this year.
Required:
1. For this year, compute the average number of days that Visions's accounts payable are outstanding.
Note: Do not round intermediate calculations and round your final answer to the nearest whole number. Use 365
days a year.
Average number of
days
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