The following data is available for Tommy's Toys for the years 2017 through 2020:
A.Calculate the accounts payable turnover ratio for the following years:
B.Calculate the number of days it is taking Tommy's Toys to pay its vendors (assume a 365-day year):
C.Explain whether Tommy's Toys is doing a better job over the years of paying its vendors in a timely manner.

Question

The following data is available for Tommy's Toys for the years 2017 through 2020:
  A.Calculate the accounts payable turnover ratio for the following years:
  B.Calculate the number of days it is taking Tommy's Toys to pay its vendors (assume a 365-day year):
  C.Explain whether Tommy's Toys is doing a better job over the years of paying its vendors in a timely manner.

Quizplus · Accepted Answer

The Answer of The following data is available for Tommy's Toys for the years 2017 through 2020:
  A.Calculate the accounts payable turnover ratio for the following years:
  B.Calculate the number of days it is taking Tommy's Toys to pay its vendors (assume a 365-day year):
  C.Explain whether Tommy's Toys is doing a better job over the years of paying its vendors in a timely manner.

The Following Data Is Available for Tommy's Toys for the Years