Question: Current & 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 & 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. What is the firm's level of current liabilities? What is the firm's kevel of inventories?

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