Crockett Electronics has a quick ratio of 2.00x, $26,775 in cash, $14,875 in accounts receivable, some inventory, total current assets of $59,500, and total current liabilities of $20,825. The company reported annual sales of $400,000 in the most recent annual report. Over the past year, how often did Crockett Electronics sell and replace its inventory?

Crockett Electronics has a quick ratio of 2.00x, $26,775 in cash, $14,875 in accounts receivable, some inventory, total current assets of $59,500, and total current liabilities of $20,825. The company reported annual sales of $400,000 in the most recent annual report. Over the past year, how often did Crockett Electronics sell and replace its inventory?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter2: Analysis Of Financial Statements

Section: Chapter Questions

Problem 12PROB

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