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Table 3.1 Information (2019 Values)

Question 125

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Table 3.1 Table 3.1 Information (2019 values) 1.Sales totaled $110,000 2.The gross profit margin was 25 percent. 3.Inventory turnover was 3.0. 4.There are 360 days in the year. 5.The average collection period was 65 days. 6.The current ratio was 2.40. 7.The total asset turnover was 1.13. 8.The debt ratio was 53.8 percent. -Inventory for CEE in 2019 was ________.(See Table 3.1) A) $36,667 B) $32,448 C) $27,500 D) $9,167 Information (2019 values)
1.Sales totaled $110,000
2.The gross profit margin was 25 percent.
3.Inventory turnover was 3.0.
4.There are 360 days in the year.
5.The average collection period was 65 days.
6.The current ratio was 2.40.
7.The total asset turnover was 1.13.
8.The debt ratio was 53.8 percent.
-Inventory for CEE in 2019 was ________.(See Table 3.1)


A) $36,667
B) $32,448
C) $27,500
D) $9,167

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