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Crockett Electronics has a quick ratio of 2.00x, $29,475 in cash, $16,375 in accounts receivable, some inventory, total current assets of $65,500, and total
Crockett Electronics has a quick ratio of 2.00x, $29,475 in cash, $16,375 in accounts receivable, some inventory, total current assets of $65,500, and total current liabilities of $22,925. The company reported annual sales of $700,000 in the most recent annual report. Over the past year, how often did Crockett Electronics sell and replace its inventory?
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
978-1285868806, 1285868803, 978-1305691254, 978-1305465640, 1305465644, 978-1285866307
