In this problem, compute the acid-test ratio as follows: Current Assets Inventory Current Liabilities Required Determine
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In this problem, compute the acid-test ratio as follows:
Current Assets − Inventory Current Liabilities Required Determine the cost of sales of a firm with the financial data given below:
Current ratio 2.5 Quick ratio or acid-test 2.0 Current liabilities $400,000 Inventory turnover 3 times
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Related Book For 
Financial Reporting And Analysis Using Financial Accounting Information
ISBN: 9780324023534
8th Edition
Authors: Charles H Gibson
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