Cage Corporation has current liabilities of $510,000, a quick ratio of .93, inventory turnover of 6.9, and a current ratio of 1.5. What is the cost of goods sold for the company? (Do not round intermediate calculations.)

Cage Corporation has current liabilities of $510,000, a quick ratio of .93, inventory turnover of 6.9, and a current ratio of 1.5. What is the cost of goods sold for the company? (Do not round intermediate calculations.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 7PA: Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to...

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Question

Cage Corporation has current liabilities of $510,000, a quick ratio of .93, inventory
turnover of 6.9, and a current ratio of 1.5. What is the cost of goods sold for the
company? (Do not round intermediate calculations.)

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