What is the approximate days of payable outstanding

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Reference no: EM131575564

Consider the following information for a company: Sales (all credit): $6,000,000; Cost of Goods Sold: 80% of Sales; Accounts receivable: $350,000; Inventory: $600,000; Accounts payable: $150,000 What is the approximate Days of Payable Outstanding? Use 1 year = 365 days a)56 days. B)11 days. c)21 days d)46 days.

Reference no: EM131575564

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