Dollar of sales compared to the industry average

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Reference no: EM131329697

Liukin Holdings Inc. has a quick ratio of 2.00x, $35,550 in cash, $19,750 in accounts receivable, some inventory, total current assets of $79,000, and total current liabilities of 427,650. The company reported annual sales of $500,000 in the most recent annual report.

Over the past year how often did Liukin Holdings Inc. sell and replace its inventor?

23.21x

0.35x

0.39x

21.10x

The inventory turnover ratio across companies in the industry is 23.21x. Based on this information, which of the following statements is true for Liukin Holdings Inc.?

LIukin Holdings Inc. is holding more inventory per dollar of sales compared to the industry average.

LIukin Holdings Inc. is holding less inventory per dollar of sales compared to the industry average.

Reference no: EM131329697

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