Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Crawford Construction has a quick ratio of 2.00x, $33,525 in cash, $18,625 in accounts receivable, some inventory, total current assets of $74,500, and total current
Crawford Construction has a quick ratio of 2.00x, $33,525 in cash, $18,625 in accounts receivable, some inventory, total current assets of $74,500, and total current liabilities of $26,075. The company reported annual sales of $800,000 in the most recent annual report Over the past year, how often did Crawford Construction sell and replace its inventory? O 39.37 x O 35.79 x 2.86 x O 8.01 x The inventory turnover ratio across companies in the construction industry is 39.37x. Based on this information, which of the following statements is true for Crawford Construction? O Crawford Construction is holding less inventory per dollar of sales compared to the industry average. O Crawford Construction is holding more inventory per dollar of sales compared to the industry average
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started