Current ratio that is consistent with industry standards

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Reference no: EM131830251

1. If a company is having difficulty meeting its payroll and accounts payable obligations, but has a current ratio that is consistent with industry standards, what could be their problem, what would be your recommendation? Please cite any sources you use.

2. Assume the following: Cost of goods sold = $130,000; Purchases = $170,000; Beginning inventory = $40,000; Ending inventory = $80,000; Current assets = $240,000. Required: Calculate the average inventory, as used when calculating inventory turnover. Correct answer is:

60000

80000

120000

210000

Reference no: EM131830251

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