Multiple Choice
True Blue Stores had a beginning accounts payable balance of $87,300 and an ending accounts payable balance of $79,460.Sales for the period were $702,000,and costs of goods sold were $423,600.What is the payables turnover rate?
A) 6.98 times
B) 5.08 times
C) 8.23 times
D) 9.28 times
E) 7.01 times
Correct Answer:
Verified
Correct Answer:
Verified
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