Question: I'm not sure if I did it right 5 pts The Fried Green Tomatoes Restaurant has increased its operating cycle from 95.8 days to 100.1


I'm not sure if I did it right
5 pts The Fried Green Tomatoes Restaurant has increased its operating cycle from 95.8 days to 100.1 days while the cash cycle has decreased by 2.1 days. How have these changes affected the accounts payable period? Decrease of 6.4 days Decrease of 2.2 days Increase of 4.3 days Increase of 6.4 days Increase of 2.2 days 5 pts Big Al's Meat Market has annual sales of $556,500 and cost of goods sold of $378,400. The profit margin is 6.5 percent and the accounts payable period is 31.3 days. What is the average accounts payable balance? Assume 365 days per year. $37,084.68 $34,766.89 $78,581.47 $32,449.10 $29,745.00
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
