Given the following information about a company:
· Sales of $1.2 million
· Payables payment period of 60 days
· Cost of goods sold equals 70 percent of sales
What is the company’s average trade payables using a 365-day year?
The correct answer was A.
COGS = (.7)($1,200,000) = $840,000
365 days/60 days per payment period = 6.08 for the payables turnover ratio
$840,000/6.08 = $138,158
[此贴子已经被作者于2006-4-27 16:27:29编辑过] | 
发表于 2006-4-27 16:26
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