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What will average inventory have

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Question - Answer each of the questions in the following unrelated situations.

The current ratio of a company is 5:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $485,000, what is the amount of current liabilities?

A company had an average inventory last year of $212,000 and its inventory turnover was 5. If sales volume and unit cost remain the same this year as last and inventory turnover is 8 this year, what will average inventory have to be during the current year?

Reference no: EM132963564

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