Columbia Sportswear is an outdoor and active lifestyle apparel and footwear company. Last year, Columbia reported cost

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Columbia Sportswear is an outdoor and active lifestyle apparel and footwear company. Last year, Columbia reported cost of goods sold of $941 million. This year, cost of goods sold was $1,146 million. Accounts payable was $174 million at the end of last year and $214 million at the end of this year.
For this year, compute the average number of days that Columbia's accounts payable are outstanding.
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
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Financial Accounting

ISBN: 9781264229734

11th Edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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