Question: (3-7) Current and Quick Ratios Ace Industries has current assets equal to $3 million. The companys current ratio is 1.5, and its quick ratio is

(3-7) Current and Quick Ratios Ace Industries has current assets equal to $3 million. The companys current ratio is 1.5, and its quick ratio is 1.0. What is the firms level of current liabilities? What is the firms level of inventories?

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