Ac corporation has beginning inventory of $9,049, accounts payable of $7,212, and accounts receivable of $6,333. the end of year values are $7,850 for inventory, $8,515 for accounts payable, and $7,029 for accounts receivable. net sales are $91,200 and costs of goods sold are $63,008. how many days are in the accounts payable period? g

The AC Corporation takes 46 Days average to pay back its accounts payable.

Explanation:

Average Accounts Payable = $7863.5

Cost of Goods Sold = $63,008

Number of Days in Accounting Period = 365

Days Payable Outstanding = (Average Accounts Payable / Cost of Goods Sold) x Number of Days in Accounting Period

Days Payable Outstanding = ($7,863.5 / $63,008) x 365

Days Payable Outstanding = 45.55

Therefor, the company takes an average of 46 days to pay back its accounts payable.

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