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What will be the current ratio

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Question - ABC has annual sales of $365 million. The company's days sales outstanding (calculated on a 365-day basis) is 50, which is well above the industry average of 35. The company has $200 million in current assets, $150 million in current liabilities, and $75 million in inventories. The company's goal is to reduce its DSO to the industry average without reducing sales. Cash freed up would be used to repurchase common stock. What will be the current ratio if the company accomplishes its goal?

Reference no: EM133147359

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