Question
1a. Given: total current assets, $110,000; total assets, $250,000; total current liabilities, $97,000; total liabilities, $150,000; beginning inventory, $85,000; ending inventory, $89,500; cost of goods
1a. Given: total current assets, $110,000; total assets, $250,000; total current liabilities, $97,000; total liabilities, $150,000; beginning inventory, $85,000; ending inventory, $89,500; cost of goods sold, $265,000. Calculate the inventory turnover.
a. | 1.5 | |||||||||||||
b. | 0.7 | |||||||||||||
c. | 3.0 | |||||||||||||
d. 0.3
1b. A company has a current ratio of 2.1. What does that mean?
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