Question: 7. Problem 7-07 (Current and Quick Ratios) eBook Current and Quick Ratios Ace Industries has current assets equal to $3 million. The company's current ratio

7. Problem 7-07 (Current and Quick Ratios) eBook Current and Quick

7. Problem 7-07 (Current and Quick Ratios) eBook Current and Quick Ratios Ace Industries has current assets equal to $3 million. The company's current ratio is 3.0, and its quick ratio is 2.5. Do not round intermediate calculations. Round your answers to the nearest dollar. What is the firm's level of current liabilities? What is the firm's level of inventories

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