Johnny appleseed brewing company (jabc) has a quick ratio of 2.00; $38,250 in cash; $21,250 in accounts receivable; some inventory; total current assets of $85,000; and total current liabilities of $29,750. in its most recent annual report, jabc reported annual sales of $100,000 and a cost of goods sold equal to 65% of annual sales. how many times is johnny appleseed brewing company (jabc) selling and replacing its inventory? 0.35x 2.805x 3.92x 2.55x

2.55x

Explanation:

Inventory Turnover:

COGS/Inventory

First, we solve for COGS:

annual sales: $100,000

COGS 65% of sales: 100,000 x 65% = $65,000

Then, we solve for inventory:

quick ratio:

(current assets - inventory)/current liabilities

(CA - inventory)/current liabilities = 2.00

(85,000 - inventory)/29,750 = 2.00

inventory = 85,000 - 29,750 x 2.00

inventory = 25,500

Inventory Turnover:

COGS/Inventory = 65,000/25,500 = 2.5490 = 2.55

c

explanation:

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990.   the answer is there are 990 different ways the positions can be filled by these applicants