Exhibit 19-3
USE THE FOLLOWING INFORMATION FOR THE NEXT PROBLEM(S)

Exhibit 19-3
USE THE FOLLOWING INFORMATION FOR THE NEXT PROBLEM(S)
You are provided with the following information for a company. $\begin{array}{llcc} \text { Net Annual Sales } &60000\\ \text { Average Receivables } &1200\\ \text { COGS } &35000\\ \text { Average Inventory } &3000\\ \text { Average Trade Payables } &1500\\\end{array}$

-Refer to Exhibit 19-3. Calculate the payables turnover ratio.

A) 30.3
B) 23.3
C) 55.4
D) 11.6
E) 56.6