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The current ratio for your company is calculated as follows: 152 630 82 603 = 1.8 The auditor of your company discovers that $42

The current ratio for your company is calculated as follows: 152 630 82 603 = 1.8 The auditor of your company discovers that $42 000 of obsolete merchandise is included in the inven- tory figure. How should this be handled? How will it affect the current ratio?

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