Cost of Goods Sold Sexton Corp. has current liabilities of $263,000, a quick ratio of .75,...

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Cost of Goods Sold Sexton Corp. has current liabilities of $263,000, a quick ratio of .75,...

Cost of Goods Sold Sexton Corp. has current liabilities of $263,000, a quick ratio of .75, inventory turnover of 10.35, and a current ratio of 1.25. What is the cost of goods sold for the company?

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Answer 1

Answer #1

Current Assets = Current Ratio * Current liabilities = 1.25 * 263,000 = 328,750

Inventory = Current Assets - 0.75* Current Liabilities = 328,750 - 0.75* 263,000 = 131,500

COGS = Inventory Turnover * Inventory = 10.35 * 131500 = 1,361,025

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Answer 2

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Cost of Goods Sold Sexton Corp. has current liabilities of $263,000, a quick ratio of .75,...

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Cost of Goods Sold Sexton Corp. has current liabilities of $263,000, a quick ratio of .75,...

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Cost of Goods Sold Sexton Corp. has current liabilities of $263,000, a quick ratio of .75,...

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