Question: 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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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:Question: 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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