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Table3.1 Balance Sheet Cole Eagan Enterprises 12/31/2013 Cash $ 4,500.00 Accounts Payable $ 10,000.00 Accounts Receivable Notes Payable Inventory Accruals $ 1,000.00 Total Current Asset

Table3.1
Balance Sheet
Cole Eagan Enterprises
12/31/2013
Cash $ 4,500.00 Accounts Payable $ 10,000.00
Accounts Receivable Notes Payable
Inventory Accruals $ 1,000.00
Total Current Asset Total Current Liabilities
Net Fixed Assets Long-Term Debt
Total assets Stockholders' Equity
Total Liablitiles & S.E.

Information (2013 values)

  1. Sales totaled $110,000
  2. The gross profit margin was 15 percent
  3. Inventory turnover was 3.0
  4. There are 360 days in the year.
  5. The average collection period was 65 days.
  6. The current ratio was 2.40.
  7. The total asset turnover was 2.40.
  8. The debt ratio was 53.8 percent.

Question: Inventory for CEE in 2013 was ________. (See Table 3.1)

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