When perfectly competitive firm X sells three units of product Z, its marginal revenue is $4.67. When it sells one hundred units
1 answer:
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Answer:
Cost of goods will be $4670325
Explanation:
We have given current liabilities = $407000
A quick ratio = 1.90
Current ratio is 3.40 and inventory turnover = 4.50
We know that current ratio is the ratio of current assets and current liabilities
So
So current assets = $1383800
Now quick ratio is equal to =
So
Inventory = $1037850
Inventory turnover is given 4.5
So
So cost of goods sold = 4.5×$1037850 = $4670325