Mandesa, Inc., has current liabilities of $8 million, current ratio of 2 times, inventory turnover ratio of

Question:

Mandesa, Inc., has current liabilities of $8 million, current ratio of 2 times, of 12 times, average collection period of 30 days, and credit sales of $64 million. Calculate the value of cash and marketable securities. Assume all sales are credit sales. Inventory Turnover Ratio
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,...