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Assume that a companys current ratio is 3.0, working capital is $335,000, and the acid-test ratio is 1.2. Required: How much does the company have

Assume that a companys current ratio is 3.0, working capital is $335,000, and the acid-test ratio is 1.2.

Required:

  1. How much does the company have in current assets?
  2. If the only current assets shown on the balance sheet are Cash, Accounts Receivable, and Merchandise Inventory, how much does the company have in Merchandise Inventory?

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