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Highly Suspect Corp. has current liabilities of $417,000, a quick ratio of 1.20, an inventory turnover of 4.30, and a current ratio of 3.80. What is the cost of goods sold for the company? a. $4,662,060 b. $1,301,040 c. $6,813,780 d. $500,400 e. $1,355,250

Highly Suspect Corp. has current liabilities of $417,000, a quick ratio of 1.20, an inventory turnover of 4.30, and a current ratio of 3.80. What is the cost of goods sold for the company? a. $4,662,060 b. $1,301,040 c. $6,813,780 d. $500,400 e. $1,355,250

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 15BEA: Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000....
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Highly Suspect Corp. has current liabilities of $417,000, a quick ratio of 1.20, an inventory turnover of 4.30, and a current ratio of 3.80. What is the cost of goods sold for the company? a. $4,662,060 b. $1,301,040 c. $6,813,780 d. $500,400 e. $1,355,250
Transcribed Image Text:Highly Suspect Corp. has current liabilities of $417,000, a quick ratio of 1.20, an inventory turnover of 4.30, and a current ratio of 3.80. What is the cost of goods sold for the company? a. $4,662,060 b. $1,301,040 c. $6,813,780 d. $500,400 e. $1,355,250
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