Danube Industries has current liabilities of $720,000, a quick ratio of 0.85, inventory turnover of 6.2, and a current ratio of 1.9. What is the cost of goods sold for the company?

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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Can you solve this financial accounting problem using accurate calculation methods?

Danube Industries has current
liabilities of $720,000, a quick ratio of
0.85, inventory turnover of 6.2, and a
current ratio of 1.9. What is the cost of
goods sold for the company?
Transcribed Image Text:Danube Industries has current liabilities of $720,000, a quick ratio of 0.85, inventory turnover of 6.2, and a current ratio of 1.9. What is the cost of goods sold for the company?
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