General Accounting question Question:The quick ratio is 0.81. Current assets are$103,000 and current liabilities are $79,000.What is the amount in the inventory account?

Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…

Answered: Question: The quick ratio is 0.81.…

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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Question: The quick ratio is 0.81. Current assets are $103,000 and current liabilities are $79,000. What is the amount in the inventory account?