Titan Technologies has current liabilities of $800,000, a quick ratio of 0.75, an inventory turnover of 5.5, and a current ratio of 2.5. What is the cost of goods sold for the company?

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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Please explain the solution to this financial accounting problem with accurate principles.

Titan Technologies has current liabilities of
$800,000, a quick ratio of 0.75, an inventory
turnover of 5.5, and a current ratio of 2.5. What is
the cost of goods sold for the company?
Transcribed Image Text:Titan Technologies has current liabilities of $800,000, a quick ratio of 0.75, an inventory turnover of 5.5, and a current ratio of 2.5. What is the cost of goods sold for the company?
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