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A firm's current ratio is 1.5, and its quick ratio is 1.0. If its current liabilities are $10,000, what are its inventories?
a
Current Ratio
1.5
(Current Assets/Current Liabilties)
b
Quick Ratio
1.0
c
Current Liabilities
mce_markernbsp; 10,000.00
d
Current Assets
mce_markernbsp; 15,000.00
(a x c)
e
As quick ratio,
(Current Assets - Stock)/Current Liabilties) = 1.0
($15,000 - Stock)/$10,000 = 1
$15000 - Stock = $10,000
Stock = $5,000
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