Luster Company has current assets of $130,000 and current liabilities of $80,000, of which accounts...
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Accounting
Luster Company has current assets of $130,000 and current liabilities of $80,000, of which accounts payable are $70,000. Lusters cost of goods sold is $460,000, its merchandise inventory increased by $20,000, and accounts payable were $50,000 the prior year. Calculate Lusters working capital, payables turnover, and days payable.
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