Q 6-2 Jones Wholesale Company has been one of the fastest growing wholesale firms in the United States for the last five years in terms of sales and profits. The firm has maintained a current ratio above the average for the wholesale industry. Mr. Jones has asked you to explain possible reasons why the firm is having difficulty meeting its payroll and its accounts payable. What would you tell Mr. Jones? Q 6-16 Desc firm that is ar ing concern. Q 6-17 Duri costing metho valuation of in realistic valua a. LIFO

Q 6-2 Jones Wholesale Company has been one of the fastest growing wholesale firms in the United States for the last five years in terms of sales and profits. The firm has maintained a current ratio above the average for the wholesale industry. Mr. Jones has asked you to explain possible reasons why the firm is having difficulty meeting its payroll and its accounts payable. What would you tell Mr. Jones? Q 6-16 Desc firm that is a ing concern. Q 6-17 Dur costing meth valuation of in realistic valua a LIFO