Question: AAA's inventory turnover ratio is 1 3 . 2 7 based on sales of $ 1 4 , 2 0 0 , 0 0 0

AAA's inventory turnover ratio is 13.27 based on sales of $14,200,000. The firm's current ratio equals 3.97 with current liabilities equal to $860,000. What is the firm's quick ratio? (Round your answer to two decimal places.)
Group of answer choices
3.97
2.73
3.45
1.55
4.90

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!