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kakasveta [241]
3 years ago
10

A firm has sales of $1,220, net income of $226, net fixed assets of $544, and current assets of $300. The firm has $101 in inven

tory. What is the common-size statement value of inventory
Business
1 answer:
Nady [450]3 years ago
4 0

Answer:

11.97%

Explanation:

Common size statement value of inventory is where all accounts are expressed as a percentage of total assets.

Total assets = Net fixed assets + Current assets

= $544 + $300

= $844

Common size statement value of inventory = Inventory ÷ Total assets

= $101 ÷ $844

= 0.1197

= 11.97%

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