Question: Luster Company has current assets of 130 000 and current liabilities
Luster Company has current assets of $130,000 and current liabilities of $80,000, of which accounts payable are $70,000. Luster’s cost of goods sold is $460,000, its merchandise inventory increased by $20,000, and accounts payable were $50,000 the prior year. Calculate Luster’s working capital, payables turnover, and days’ payable. (Round to one decimal place.)
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