FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Falcon Corporation originally has current assets of $400 and current liabilities of $275. It purchases $108 of inventory with short-term accounts payable. What is its new current ratio? (Round to two decimal places.) O 1.45 None of these is correct. O 1.69 O 1.33arrow_forwardJC Penney has sales of $897,400, costs of goods sold of $628,300, inventory of $208,400, and accounts receivable of $74,100. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit? 84.76 days 121.07 days 74.19 days 151.21 days 138.46 daysarrow_forwardSub : FinancePls answer very fast.I ll upvote CORRECT ANSWER . Thank You ( dnt use CHATGPT)arrow_forward
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