Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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AAA's inventory turnover ratio is 13.27 based on sales of $14,200,000. The firm's current ratio equals 3.97 with current liabilities equal to $860,000. What is the firm's quick ratio? (Round your answer to two decimal places.) O 3.97 O 2.73 3.45 1.55 4.90
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Transcribed Image Text:AAA's inventory turnover ratio is 13.27 based on sales of $14,200,000. The firm's current ratio equals 3.97 with current liabilities equal to $860,000. What is the firm's quick ratio? (Round your answer to two decimal places.) O 3.97 O 2.73 3.45 1.55 4.90
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The formulae to be used in the question are

Inventory turnover = SalesInventoryCurrent ratio = Current assetsCurrent liabilitiesQuck ratio = Current assets-InventoryCurrent liabilities

 

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