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A company reported the following data for its first year of operations:
Net sales $ 2,800
Cost of goods sold 1,680
Operating expenses 880
Ending inventories 820
A) 80%.
B) 49%.
C) 40%.
D) 5%.
Answer: C
Assuming a current ratio of 1.2 and an acid-test ratio of 0.80, how will the purchase of inventory with cash affect each ratio? A) Increase ...
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