Calculate the Current Ratio Given the Following Information: Current Liabilities

question 298

Multiple Choice

Calculate the current ratio given the following information: current liabilities = $55,000; sales = $250,000; cost of goods sold = $120,000; cash ratio = 0.91; accounts receivable turnover = 6.25;
Inventory turnover = 2.

• A) 2.63
• B) 2.73
• C) 2.83
• D) 2.93
• E) 3.03

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