Calypso Corporation reported the following comparative current assets and current liabilities: During 2020, credit sales and cost of goods sold were $480,000 and $288,000, respectively.
Instructions
Calculate the following ratios for 2020:
(a) Current ratio
(b) Receivables turnover
(c) Inventory turnover

Question

Calypso Corporation reported the following comparative current assets and current liabilities:  During 2020, credit sales and cost of goods sold were $480,000 and $288,000, respectively.
Instructions
Calculate the following ratios for 2020:
(a) Current ratio
(b) Receivables turnover
(c) Inventory turnover

Quizplus · Accepted Answer

The Answer of Calypso Corporation reported the following comparative current assets and current liabilities:  During 2020, credit sales and cost of goods sold were $480,000 and $288,000, respectively.
Instructions
Calculate the following ratios for 2020:
(a) Current ratio
(b) Receivables turnover
(c) Inventory turnover

Calypso Corporation Reported the Following Comparative Current Assets and Current