What is the amount of inventory the firm reported

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Reference no: EM132066883

Assume Randall Industries recently reported $50,000 in total assets and $28,000 in shareholders' equity on their balance sheet. Additionally, they had $15,000 in current assets and a current ratio of 1.2. If their quick ratio is 0.90, what is the amount of inventory the firm reported on their balance sheet? The firm's earnings totaled $18,000 on sales of $47,000.

Reference no: EM132066883

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