Question: Current and Quick Ratios Ace Industries has current assets equal to $3 million. The company's current ratio is 1.5, and its quick ratio is 1.0.

Current and Quick Ratios

Ace Industries has current assets equal to $3 million. The company's current ratio is 1.5, and its quick ratio is 1.0.

Suppose the values for this problem change to:

Current Assets: $3 million

Current Ratio: 1.3

Quick Ratio: 1.1

What is the firm's level of inventories? Round your solution to one decimal in millions, i.e. you would enter $123.456789 million as 123.5

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