Question

Umainf un nying Peng ans Car D. has total currentassets or s 14,929, 107, arrent labilities of S4,9 74,67%, and a quick ratio ofons. How much inventory does it have? (Room, answer to nearest dollar, e.g. 5,675.) Click if you wox ld like to Show Work for this question: e Show Work By accessing this Question Assis tance, you will learn while you eam points based on the Point Potential Poliey set by your instructor Earn Maximum Paints avaliable only iyou aneer this question cormectiy in your 8 Ul Ctr ←Home

Answer 1

The formula for quick ratio can be interpreted as

(Current assets- inventory)/Current liabilities

Therefore putting the given values to find the value of inventory, we get (14,929,107-inventory)/4,974,679 = 0.85

Therefore, inventory= $10,700,629.85