Answer:
$3,115,770
Explanation:
Given:
Current ratio = 3.60
Current liabilities = $401, 000
Quick ratio = 1.50
Inventory turnover = 3.70 
Current ratio is calculated by dividing your current assets by your current liabilities.
                      
                                      
                      Current Assets = 3.60 × 401,000
                                                = $1,443,600
                     
                     
                     1.50 × 401,000 = 1,443,600 - Inventory
                     601,500 = 1,443,600 - Inventory
                     Inventory = 1,443,600 - 601,500
                                      = $842,100
                     
                     
                     Cost of Goods Sold = 3.70 × 842,100
                                                       = $3,115,770