Question: W F Bailey Company had a quick ratio of 1 4
W. F. Bailey Company had a quick ratio of 1.4, a current ratio of 3.0, an inventory turnover of five times, total current assets of $810,000, and cash and equivalents of $120,000 in 2015. If the cost of goods sold equaled 80 percent of sales, what were Bailey’s annual sales and DSO?
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