Suppose that 2013 business sales is $1,650,000 and COGS is 530,000. In 2014, the business...
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Accounting
Suppose that 2013 business sales is $1,650,000 and COGS is 530,000. In 2014, the business owner expects that sales will increase by 13% and COGS will be proportional to sales at the same rate as in 2013. Accounts Payable in 2013 is $16,500. In 2014, no change in AP days is expected.
1a) Find the value of COGS in 2014.
1b) Find the $ value of Accounts Payable in 2014.
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