Visions designs, markets, and distributes audio and gaming headphones, earbuds, and speakers. Assume that last year, Visions reported cost of goods sold of $156 million. Assume that this year, cost of goods sold was $115 million. Accounts payable was $23 million at the end of last year and $17 million at the end of this year. Required: 1. For this year, compute the average number of days that Visions's accounts payable are outstanding. Note: Do not round intermediate calculations and round your final answer to the nearest whole number. Use 365

Visions designs, markets, and distributes audio and gaming headphones, earbuds, and speakers. Assume that last year, Visions reported cost of goods sold of $156 million. Assume that this year, cost of goods sold was $115 million. Accounts payable was $23 million at the end of last year and $17 million at the end of this year. Required: 1. For this year, compute the average number of days that Visions's accounts payable are outstanding. Note: Do not round intermediate calculations and round your final answer to the nearest whole number. Use 365

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter9: Receivables

Section: Chapter Questions

Problem 26E: Ralph Lauren Corporation designs, markets, and distributes a variety of apparel, home decor,...

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