A firm has sales of $1,040, net income of $208, net fixed assets of $508, and current assets of $264. The firm has $83 ininventory. What is the common-size balance sheet value of inventory?

Total Assets = Fixed Assets + Current AssetsTotal Assets = 508+264Total Assets = $772 Common-size…

Answered: A firm has sales of $1,040, net income…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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A firm has sales of $1,040, net income of $208, net fixed assets of $508, and current assets of $264. The firm has $83 in inventory. What is the common-size balance sheet value of inventory?