What does a current ratio of 1.4 mean?
For each $1 of inventory, the company has about $1.40 of current liabilities.
For each $1 of current assets, the company has about $1.40 of current liabilities.
For each $1 of total assets, the company has about $1.40 of current liabilities.
For each $1 of current liabilities, the company has about $1.40 of current assets.
None of these answers are correct
What does an inventory turnover ratio of 6.3 mean?
The company sold its inventory each 6.3 months
The company sold its inventory approximately 6.3 times a year.
The company sold its inventory each 6.3 days.
The company takes about 6.3 years to sell its inventory.
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