Ever bright Inc. has: • Current Liabilities = $510,000 1.50 . Quick Ratio • Current Ratio = 4.00 . • Inventory Turnover = 5.00 What is the cost of goods sold (COGS)?

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 5MC
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Can you help me find the accurate solution to this financial accounting problem using valid principles?

Ever bright Inc. has:
•
Current Liabilities = $510,000
1.50
.
Quick Ratio
•
Current Ratio = 4.00
.
• Inventory Turnover = 5.00
What is the cost of goods sold (COGS)?
Transcribed Image Text:Ever bright Inc. has: • Current Liabilities = $510,000 1.50 . Quick Ratio • Current Ratio = 4.00 . • Inventory Turnover = 5.00 What is the cost of goods sold (COGS)?
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