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

Step 1: Definition of Balance Sheet and Current RatioThe balance sheet represents a snapshot of a…

Answered: Burt's TVs has current liabilities of…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

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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?