Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Post software Incorporated has a quick ratio of 2 . 0 0 X 2 4 , 7 5 0 in cash $ 1 3 ,

Post software Incorporated has a quick ratio of 2.00 X 24,750 in cash $13,750 in accounts receivable some inventory total current assets of 55,000 and total current liabilities of $19,250 the company reporter annual sales of $200,000 in the most recent annual Port this need the company's cost of goods sold is 75% of sales. over the past year, how often did Polk Software inc. sell and replace its inventory?

Step by Step Solution

3.41 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

ANSWER To solve this problem we need to calculate the inventory turnover ratio which will tell us ho... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Electronic Devices and Circuit Theory

Authors: Robert L. Boylestad, Louis Nashelsky

10th edition

135026490, 978-0135026496

More Books