Landseeker's restaurants reported cost of goods sold of $338 million and accounts payable of $68 million for 2020. in 2019, cost of goods sold was $274 million and accounts payable was $56 million. landseeker’s accounts payable turnover ratio in 2020 is closest to:

5.45 times

Explanation:

The computation of the accounts payable turnover ratio is shown below:

= Cost of goods sold ÷ average accounts payable

where,  

Average accounts payable = (Opening balance of Accounts payable + ending balance of Accounts payable) ÷ 2

= ($56 million + $68 million) ÷ 2

= $62 million

And, the net credit sale is $338 million  

Now put these values to the above formula  

So, the answer would be equal to  

= $338 million ÷ $62 million

= 5.45 times

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

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