BADM SECTIONS) 363 Business Finance: Fall 2017 (AL FINANCE Chapter 3 Homework in
ID: 2784009 • Letter: B
Question
BADM SECTIONS) 363 Business Finance: Fall 2017 (AL FINANCE Chapter 3 Homework instruc Question 5 (of 16) E Save & Exit 5. 100 points Problem 3-9 Calculating Average Payables Period [LO 2 For the past year, Coach, Inc., had a cost of goods sold of $60,882. At the end of the year, the accounts payable balance was $13,389 How long on average did it take Days' sales in payables the company to pay off ts suppliers during the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e-g-. 32.16.,) days References eBook & Resources Worksheet Difficulty: 1 Basic Problem 3-9 Calculating Average Payables Period [LO 21 Learning Objective: 03-02 Compute and. more important, interpret some common ratios 0eExplanation / Answer
Days' Sales in payables = 365 x Payables / COGS
= 365 x 13,389 / 60,882
= 80.27 days
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