Question: Problem 3-9 Calculating Average Payables Period (LO 2] For the past year, Hawkeye, Inc., had a cost of goods sold of $66,382. At the end
Problem 3-9 Calculating Average Payables Period (LO 2] For the past year, Hawkeye, Inc., had a cost of goods sold of $66,382. At the end of the year, the accounts payable balance was $12,289. How long on average did it take the company to pay off its suppliers during the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days' sales in payables
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
