New Technologies has current liabilities of $390,000, a quick ratio of 1.30, an inventory turnover of 5.10, and a current ratio of 4.10. What is the cost of goods sold for the company? a. $5,643,000 b. $1,219,500 c. $7,564,200 d. $498,300 e. $5,569,200

New Technologies has current liabilities of $390,000, a quick ratio of 1.30, an inventory turnover of 5.10, and a current ratio of 4.10. What is the cost of goods sold for the company? a. $5,643,000 b. $1,219,500 c. $7,564,200 d. $498,300 e. $5,569,200

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

100%

What is the cost of goods sold for the company?

New Technologies has current liabilities of
$390,000, a quick ratio of 1.30, an inventory
turnover of 5.10, and a current ratio of 4.10.
What is the cost of goods sold for the company?
a. $5,643,000
b. $1,219,500
c. $7,564,200
d. $498,300
e. $5,569,200

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