The Following Data Were Shown in the Records of Victoria

question 8

Short Answer

The following data were shown in the records of Victoria Company at the end of 2010:
$$\begin{array} { l r } \text { Quick assets } & \$ 180,000 \\\text { Current assets } & 225,000 \\\text { Average net receivables } & 10,000 \\\text { Average inventory } & 42,000 \\\text { Current liabilities } & 50,000 \\\text { Net credit sales } & 120,000 \\\text { Cost of goods sold } & 84,000 \\\text { Assume } 365 \text { days in the year } &\end{array}$$ Calculate each of the following ratios:
A.Quick ratio
B.Current ratio
C.Receivable turnover ratio
D.Inventory turnover ratio
E.Average age of receivables
F.Average days' supply in inventory

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