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Calculating the Days' Payable Period . The following information is taken from the annual report of Coca-Cola Enterprises, Inc.: (amounts in millions) Year 2 Year
Calculating the Days' Payable Period. The following information is taken from the annual report of Coca-Cola Enterprises, Inc.:
(amounts in millions) | Year 2 | Year 1 |
---|---|---|
Net revenue | $18,706 | $18,158 |
Cost of goods sold | 13,385 | 12,971 |
Inventories | 786 | 763 |
Accounts payable | 2,639 | 2,708 |
Using this information, calculate the accounts payable turnover ratio and the days' payable period for Year 1 and Year 2.
Do not round until your final answer. Round all answers to nearest one decimal place.
Year 2 | Year 1 | |
---|---|---|
Accounts payable turnover | Answer
| Answer
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Days'payable period | Answer
| Answer
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