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Burt's TVs has current liabilities of $24.2 million. Cash makes up 33 percent of the current assets and accounts receivable make up another 13 percent of current assets. Burt's current ratio = 1.03 times. What is the value of inventory listed on the firm's balance sheet?

Burt's TVs has current liabilities of $24.2 million. Cash makes up 33 percent of the current assets and accounts receivable make up another 13 percent of current assets. Burt's current ratio = 1.03 times. What is the value of inventory listed on the firm's balance sheet?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the value of inventory listed on the firm's balance sheet?

Burt's TVs has current liabilities of $24.2 million. Cash makes up 33 percent of the current assets and accounts receivable make up another 13 percent of current assets. Burt's current ratio = 1.03 times. What is the value of inventory listed on the firm's balance sheet?
Transcribed Image Text:Burt's TVs has current liabilities of $24.2 million. Cash makes up 33 percent of the current assets and accounts receivable make up another 13 percent of current assets. Burt's current ratio = 1.03 times. What is the value of inventory listed on the firm's balance sheet?
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