Emmacorp Reports a Current Ratio of 2 and a Quick

question 103

Multiple Choice

Emmacorp reports a current ratio of 2 and a quick ratio of 1.4.The firm has total current assets of $8,000.If Emmacorp reports cost of goods sold at $30,000 for the given year,what is Emmacorp's inventory turnover?

• A) 12.5
• B) 15.5
• C) 21.4
• D) 5.2

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