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jaxondbagley
14.02.2020 •
Business
What is the inventory turnover ratio for ABC Corp. if cost of goods sold equals $5,000, current ratio equals 3, quick ratio equals 1.5, and the firm has $1,800 in current assets
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Ответ:
Inventory turnover= 5.5 times
Explanation:
Current ratio is given as 3
Cost of goods sold = $5,000
Current assets = $1,800
Quick ratio= 1.5
Current ratio= current assets/ current liabilities
3= 1,800/ current liabilities
Current liabilities= 1,800/3
Current liabilities= $600
Quick ratio= Cash and Receivables/ Current liabilities
1.5= Cash and Receivables/600
Cash and Receivables= 600* 1.5= $900
Current asset= Cash and Receivables + Inventory
1,800= 900+ Inventory
Inventory= 1,800-900
Inventory= $900
Inventory turnover= Cost of goods sold/ Inventory
Inventory turnover= 5,000/900
Inventory turnover= 5.5 times
Ответ:
that is a false statement