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Brief Exercise 3-11 (Algo) Calculating ratios; solving for unknowns (LO3-8] The current asset section of Stibbe Pharmaceutical Company's balance sheet included cash of $34,000 and
Brief Exercise 3-11 (Algo) Calculating ratios; solving for unknowns (LO3-8] The current asset section of Stibbe Pharmaceutical Company's balance sheet included cash of $34,000 and accounts receivable of $54,000. The only other current asset is inventory. The company's current ratio is 2.5 and its acid-test ratio is 2.0. Determine the ending balance in inventory and total current liabilities. Inventory Current liabilities
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