Flying Penguins Corp. has total current assets of $8,755,000, current liabilities of $5,855,000, and a quick...

Flying Penguins Corp. has total current assets of $8,755,000, current liabilities of $5,855,000, and a quick ratio of 0.78. How much inventory does it have? (Round answer to nearest dollar, e.g. 5,675.)

Level of inventory

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Expert Solution

Quick ratio= (quick Asset/current liability)

Quick asset= (.78*5855000)= 4566900

Total current asset of the company= 8755000

Total inventory=(current asset - quick asset)

= (8755000-4566900)= $41,88,100

Total inventory of the company is $4188100

jeff jeffy answered 2 years ago

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