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recompute the current ratio after corrections are made At December 31, 2019, Karen White Corporation reported current assets of $334,430 and current liabilities of $213,000.

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recompute the current ratio after corrections are made
At December 31, 2019, Karen White Corporation reported current assets of $334,430 and current liabilities of $213,000. The following items may have been recorded incorrectly. 1. Goods purchased costing $19,970 were shipped f.o.b. shipping point by a supplier on December 28. White received and recorded the invoice on December 29,2019, but the goods were not included in White's physical count of inventory because they were not received until January 4,2020. 2. Goods purchased costing $16.270 were shipped f.o.b.destination by a supplier on December 26. White received and recorded the invoice on December 31, but the goods were not included in White's 2019 physical count of inventory because they were not received until January 2, 2020. 3. Goods held on consignment from Claudia Kishi Company were included in White's December 31, 2019, physical count of inventory at $11,720. 4. Freight-in of $3,280 was debited to advertising expense on December 28, 2019. (a) Compute the current ratio based on White's balance sheet. (Round ratio to 2 decimal places, es. 2.31:1) :1 The current ratio

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