average accounts payable cycle. use the following account information to calcula

ID: 2627817 • Letter: A

Question

average accounts payable cycle. use the following account information to calculate Rian Company's average accounts payable cycle.

12/31/08

12/31/07

Change

Accounts receivable

36,199

43,796

7,597

Inventory

53,763

58,019

4,256

Accounts payable

26,653

24,795

1,858

2008 selected income statement items for Rian Company

Cash sales $386,000

credit sales $545,000

total sales $931,000

Cost of goods sold $529,095

What is Rian company's average accounts payable cycle?

I have worked really hard to try and figure this out. This is what I have and is not working. Please please help.

=(53763+58019)/2 = 55891

=529095/55891 = 9.47 I think this is were I go wrong

= 365/9.47 I know this is not right, but I don't know what it is. Thanks so much for your help with this.