Determine the sales or cost of good sold of a firm given the following information: Current ratio = 1.4; Acid-test Ratio = 1.2; Current Liabilities = P1,600.00; Inventory Turnover ratio = 8 a. P1,260.00 b. P1,560.00 c. P2,260.00 d. P2,560.00 e. P3,260.00

Determine the sales or cost of good sold of a firm given the following information: Current ratio = 1.4; Acid-test Ratio = 1.2; Current Liabilities = P1,600.00; Inventory Turnover ratio = 8 a. P1,260.00 b. P1,560.00 c. P2,260.00 d. P2,560.00 e. P3,260.00

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

Choose the letter of the correct answer and pls provide solution thanks

Determine the sales or cost of good sold of a firm given the following information: Current ratio = 1.4; Acid-test Ratio = 1.2; Current Liabilities = P1,600.00; Inventory Turnover ratio = 8

a. P1,260.00
b. P1,560.00
c. P2,260.00
d. P2,560.00
e. P3,260.00

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