Answered: D&P Corp. has current liabilities of…

D&P Corp. has current liabilities of $565,000, a quick ratio of 0.93, inventory turnover of 5.8, and a current ratio of 2.4. What is the cost of goods sold for the company? Answer: $4,817,190

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

Provide Answer

D&P Corp. has current liabilities of
$565,000, a quick ratio of 0.93,
inventory turnover of 5.8, and a current
ratio of 2.4. What is the cost of goods
sold for the company?
Answer: $4,817,190

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