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What the estimated inventory amount is

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1. The current assets of Cannon Enterprise consists of cash, accounts receivable, and inventory. The following information is available:

Credit sales 75% of total sales

Inventory turnover 5 times

Working capital P1,200,000

Current ratio 2.00 to 1

Quick ratio 1.25 to 1

Average collection period 42 days

Working days 360

Question 1: The estimated inventory amount is

a. 840,000

b. 600,000

c. 720,000

d. 550,000

Reference no: EM132497959

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