Attempts Keep the Highest/6 8. Asset management ratios 1. STEP: 2 of 3 Johnny Appleseed Brewing Company has a quick ratio of 2.00; $38,250 in cash; $21,250 in accounts receivable; some inventory; total current assets of $85,000; and total current liabilities of $29,750. In its most recent annual report, JABC reported annual sales of $100,000 and a cost of goods sold equal to 65% of annual sales. How many times is Johnny Appleseed Brewing Company selling and replacing its inventory? 2.81x 0.35x 2.55x 3.92x The inventory turnover ratio across companies in JABC's industry is 2.17. Based on this information, which of the following statements is true for Johnny Appleseed Brewing Company? JABC is holding less inventory per dollar of COGS compared to the industry average. Johnny Appleseed Brewing Company is holding more inventory per dollar of COGS compared to the industry average. Grade Step 2 TOTAL SCORE: 1/6 (to complete this step and unlock the next step) Save & Continue Continue without saving Grade It Now