Polk Software Inc. has a quick ratio of 2.00x, $30,825 in cash, $17,125 in accounts receivable, some inventory, total current asset= $68,500, and total current liabilities of $23,975. The company reported annual sales of $200,000 in the most recent annual report. Additionally, the company's cost of goods sold is 75% of sales. Over the past year, how often did Polk Software Inc. sell and replace its inventory? O 7.30x O8.01x 8.03x

Polk Software Inc. has a quick ratio of 2.00x, $30,825 in cash, $17,125 in accounts receivable, some inventory, total current asset= $68,500, and total current liabilities of $23,975. The company reported annual sales of $200,000 in the most recent annual report. Additionally, the company's cost of goods sold is 75% of sales. Over the past year, how often did Polk Software Inc. sell and replace its inventory? O 7.30x O8.01x 8.03x

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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