For the past year, Coach, Inc., had a cost of goods sold of $59,882. At the...

For the past year, Coach, Inc., had a cost of goods sold of $59,882. At the end of the year, the accounts payable balance was $13,589.

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 days

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Expert Solution

Days’ sales in payables=(Accounts payable/Cost of goods sold)*365 days

=(13589/59882)*365 days

which is equal to

=82.83 days(Approx).

jeff jeffy answered 1 year ago

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