A Company Had Accounts Payable at the Beginning of the Year

Multiple Choice

A company had accounts payable at the beginning of the year of $63,000 and at the end of the year of $69,000.Inventory at the beginning of the year was $102,000 and at the end of the year $118,000.Cost of sales for the year was $600,000.What was their accounts payable turnover ratio closest too?

A) 5.5 times
B) 9.1 times
C) 9.3 times
D) 12.4 times