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Problem - Calculating Average Payables Period

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Problem - Calculating Average Payables Period

Hare, Inc., had a cost of goods sold of $57,382. At the end of the year, the accounts payable balance was $10,432.

a) How long on average did it take the company to pay its suppliers?

b) What might a large value for this ratio imply?

Reference no: EM132862499

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