Calculating Average Payables Period (L03) For 2015. Hartney Inc. had a cost of goods sold of $43.821. At the end of the year, the account payable balance was $7.843. How long on average did it take the company to pay off its suppliers during the year? What might a large value for this ratio imply?

Answer rating: 100% (QA)

The average payables period will be calculated as follows Account pa... View the full answer