General Forge and Foundry Company has a quick ratio of 2.00; $33,750 in cash; $18,750 in accounts receivable; some inventory; total current assets of $75,000; and total current liabilities of $26,250. In its most recent annual report, General Forge reported annual sales of $100,000 and a cost of goods sold equal to 65% of annual sales. How many times is General Forge and Foundry Company selling and replacing its inventory? O 4.44x 3.179x O 0.35x O2.89x
General Forge and Foundry Company has a quick ratio of 2.00; $33,750 in cash; $18,750 in accounts receivable; some inventory; total current assets of $75,000; and total current liabilities of $26,250. In its most recent annual report, General Forge reported annual sales of $100,000 and a cost of goods sold equal to 65% of annual sales. How many times is General Forge and Foundry Company selling and replacing its inventory? O 4.44x 3.179x O 0.35x O2.89x
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...
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![General Forge and Foundry Company has a quick ratio of 2.00; $33,750 in cash; $18,750 in accounts receivable; some inventory; total current assets
of $75,000; and total current liabilities of $26,250. In its most recent annual report, General Forge reported annual sales of $100,000 and a cost of
goods sold equal to 65% of annual sales. How many times is General Forge and Foundry Company selling and replacing its inventory?
O 4.44x
O 3.179x
O 0.35x
O 2.89x](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe9e1f05-8cfa-47e6-8c70-4fac4f205f6e%2Fbe3757c1-3fb4-48ef-ac42-ba3fa0da2bf9%2Fwc58bua_processed.jpeg&w=3840&q=75)
Transcribed Image Text:General Forge and Foundry Company has a quick ratio of 2.00; $33,750 in cash; $18,750 in accounts receivable; some inventory; total current assets
of $75,000; and total current liabilities of $26,250. In its most recent annual report, General Forge reported annual sales of $100,000 and a cost of
goods sold equal to 65% of annual sales. How many times is General Forge and Foundry Company selling and replacing its inventory?
O 4.44x
O 3.179x
O 0.35x
O 2.89x
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