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The Following Data Were Shown in the Records of Victoria

Question 114

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The following data were shown in the records of Victoria Company at the end of 2010:
 Quick assets $180,000 Current assets 225,000 Average net receivables 10,000 Average inventory 42,000 Current liabilities 50,000 Net credit sales 120,000 Cost of goods sold 84,000 Assume 365 days in the year \begin{array} { l r } \text { Quick assets } & \$ 180,000 \\\text { Current assets } & 225,000 \\\text { Average net receivables } & 10,000 \\\text { Average inventory } & 42,000 \\\text { Current liabilities } & 50,000 \\\text { Net credit sales } & 120,000 \\\text { Cost of goods sold } & 84,000 \\\text { Assume } 365 \text { days in the year } &\end{array} Calculate each of the following ratios:
A.Quick ratio
B.Current ratio
C.Receivable turnover ratio
D.Inventory turnover ratio
E.Average age of receivables
F.Average days' supply in inventory

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