Cito's Corp. has current assets of $4.5 million and current liabilities of $3.6 million. The current ratio is 1.25, and the quick ratio is 0.75. How much does Cito have invested in inventory (in millions)? $0.8 $2.4 $2.9 $1.8

Cito's Corp. has current assets of $4.5 million and current liabilities of $3.6 million. The current ratio is 1.25, and the quick ratio is 0.75. How much does Cito have invested in inventory (in millions)? $0.8 $2.4 $2.9 $1.8

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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Question

Cito's Corp. has current assets of $4.5 million and current liabilities of $3.6 million. The current ratio is 1.25, and the quick
ratio is 0.75. How much does Cito have invested in inventory (in millions)?
$0.8
$2.4
$2.9
$1.8

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