Currier & Ive’s Lithography has a Cost of Goods Sold of $60.8 million. The company’s accounts payable balance is $7.5 million. Its accounts payable deferral period is
A) 81 days.
B) 45 days.
C) 8.11 days.
D) 48.7 days.
Darshita Changed status to publish August 12, 2020
Answer:
accounts payable deferral period
=365 / (6.8 / 7.5)
=365 / 8.11
=45 days
Darshita Changed status to publish August 12, 2020
