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Selected year-end data for the Brayer Company are presented below: Current liabilities $470,000 Acid-test ratio 2.4 Current ratio 2.9 Cost of goods sold $370,000 The
Selected year-end data for the Brayer Company are presented below: |
Current liabilities | $470,000 |
Acid-test ratio | 2.4 |
Current ratio | 2.9 |
Cost of goods sold | $370,000 |
The company has no prepaid expenses and inventories remained unchanged during the year. Based on these data, the company's inventory turnover ratio for the year was: (Round your answer to 2 decimal places.) |
1.57 | |
1.27 | |
2.54 | |
2.47 |
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