Wango Sales, Inc.'s, comparative income statements and balance sheets show the following selected information for 2015 and

Question:

Wango Sales, Inc.'s, comparative income statements and balance sheets show the following selected information for 2015 and 2016:

Requirements
1. Calculate the company's accounts payable turnover and days' payable outstanding (DPO) for 2015 and 2016.
2. On the basis of this computation alone, has the company's liquidity position improved or deteriorated during 2016?

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Related Book For answer-question

Financial Accounting

ISBN: 978-0134127620

11th edition

Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz

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Question Posted: Aug 01, 2016 01:43 PM

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Wango Sales, Inc.'s, comparative income statements and balance sheets show the following selected information for 2015 and

Question:

2016 $2,850,000 $2,700,000 $ 800,000 S 600,000 $ 600,000 400,000 $ 305,000 255,000 2015 Cost of goods sold. Ending inventory Beginning inventory Average accounts payable

Step by Step Answer:

Req 1 2016 2015 Accounts payable turnover Purchases Average accounts payable 30500...View the full answer

Financial Accounting

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