Cost of Goods Sold Sexton Corp. has current liabilities of $263,000, a quick ratio of .75,...
Cost of Goods Sold Sexton Corp. has current liabilities of $263,000, a quick ratio of .75, inventory turnover of 10.35, and a current ratio of 1.25. What is the cost of goods sold for the company?
Homework Answers
Current Assets = Current Ratio * Current liabilities = 1.25 *
263,000 = 328,750
Inventory = Current Assets - 0.75* Current Liabilities = 328,750 -
0.75* 263,000 = 131,500
COGS = Inventory Turnover * Inventory = 10.35 * 131500 =
1,361,025
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