Question: Consider the following case: Polk Software Inc. has a quick ratio of 2.00x, $24,750 in cash, $13,750 in accounts receivable, some inventory, total current assets
Consider the following case:\ Polk Software Inc. has a quick ratio of 2.00x, $24,750 in cash, $13,750 in accounts receivable, some inventory, total current assets of $55,000, and total current liabilities of $19,250. The company reported annual sales of $200,000 in the most recent annual report. Additionally, the companys cost of goods sold is 75% of sales.\ Over the past year, how often did Polk Software Inc. sell and replace its inventory?\ \ 10.00x\ 9.09x\ 8.01x\ 2.86x\ \
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