The company has no prepaid expenses and inventories, Ask an Expert

Accounting

Selected year-end data for the Brayer Company are presented below:

Current liabilities $600,000
Acid-test ratio 2.5 to 1
Current ratio 3.0 to 1
Cost of goods sold $500,000

The company has no prepaid expenses and inventories remained unchanged during the year. Based on these data, what the company's inventory turnover ratio for the year was closest to:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M987135

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