Lights out utilities lou purchases 15000 in raw materials, Ask an Expert

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Lights Out Utilities (LOU) purchases $15,000 in raw materials from its suppliers each day. LOU's accounts payable turnover is 12.

(a) What is LOU's payables deferral period (DPO)?

(b) What is the average accounts payable balance that is reported on LOU's financial statements?

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92204135

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