Question: Brief Exercise 3-12 (Algo) Calculating ratios; solving for unknowns [LO3-8] The current asset section of Stibbe Pharmaceutical Company's balance sheet included cash of $29,000 and

Brief Exercise 3-12 (Algo) Calculating ratios; solving for unknowns [LO3-8] The current asset section of Stibbe Pharmaceutical Company's balance sheet included cash of $29,000 and accounts receivable of $49,000. The only other current asset is inventory. The company's current ratio is 2.5 and its acid-test ratio is 2.0 . Determine the ending balance in inventory and total current liabilities

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