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

Essay

The following data is available for Tommy's Toys for the years 2012 through 2015: $\begin{array}{lllrr}&2015&2014&2013&2012\\\text { Cost of goods sold } & \$ 7,506 & \$ 7,646 & \$ 7,799 & \$ 7,815 \\\text { Accounts payable } & \$ 1,240 & \$ 1,022 & \$ 878 & \$ 896\end{array}$
A. Calculate the accounts payable turnover ratio for the following years:
1. $\quad$ 2015
2. $\quad$ 2014
3. $\quad$ 2013
B. Calculate the number of days it is taking Tommy's Toys to pay its vendors (assume a 365-day year):
1. $\quad$ 2015
2. $\quad$ 2014
3. $\quad$ 2013
C. Explain whether Tommy's Toys is doing a better job over the years of paying its vendors in a timely manner.