Kannan Carpets,Inc

question 41

Multiple Choice

Kannan Carpets,Inc.has asked you to calculate the company's current ratio for 2001.All you have is a partial balance sheet and some assumptions.Using the information provided,calculate Kannan's current ratio for 2001.
Gross profit margin = 50%
Inventory turnover (COGS/Inv) = 5
2001 sales = $3,000

• A)0.3
• B)0.8
• C)1.6
• D)2.2

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Definitions:

T-Distribution

A probability distribution that is symmetric and bell-shaped, used particularly for small sample sizes or unknown population standard deviations; synonymous with Student T Distribution but demands a new definition.

Sample Mean

The average of all numerical values in a sample subset of a population, used in statistics to estimate the population mean.

Confidence Interval

A span of numbers, taken from sample data, which is expected to include the actual value of a parameter that is unknown for the entire population.

Standard Deviation

A measure of the dispersion or variability of a set of values, indicating how much the values deviate from the mean on average.