Question: Highly Suspect Corp. has current liabilities of $417,000, a quick ratio of 1.20, an inventory turnover of 4.30, and a current ratio of 3.80. What is the cost of goods sold for the company? a. $4,662,060 b. $1,301,040 c. $6,813,780 d. $500,400 e. $1,355,250
Question: Highly Suspect Corp. has current liabilities of $417,000, a quick ratio of 1.20, an inventory turnover of 4.30, and a current ratio of 3.80. What is the cost of goods sold for the company? a. $4,662,060 b. $1,301,040 c. $6,813,780 d. $500,400 e. $1,355,250
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Question:
Highly Suspect Corp. has current liabilities of $417,000, a quick ratio of 1.20, an inventory
turnover of 4.30, and a current ratio of 3.80. What is the cost of goods sold for the company?
a. $4,662,060
b. $1,301,040
c. $6,813,780
d. $500,400
e. $1,355,250](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F05ee99fc-768d-40c0-a3e3-1941a84f5aa1%2F07112451-a606-4014-9a52-04504736c42b%2Ffwnukjf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question:
Highly Suspect Corp. has current liabilities of $417,000, a quick ratio of 1.20, an inventory
turnover of 4.30, and a current ratio of 3.80. What is the cost of goods sold for the company?
a. $4,662,060
b. $1,301,040
c. $6,813,780
d. $500,400
e. $1,355,250
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