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The following information is available for ABC Company: Current Ratio 3.5 Acid test ratio 3.0 Inventory turnover 8.0 Year-end current liabilities $600,000 Beginning inventory $500,000

The following information is available for ABC Company:

Current Ratio 3.5 Acid test ratio 3.0 Inventory turnover 8.0

Year-end current liabilities $600,000 Beginning inventory $500,000

How much is the cost of sales during the year? a. $3,200,000 b. $6,400,000 c. $2,400,000 d. $1,600,000

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