Corporate Finance Quiz
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WORKING CAPITAL MANAGEMENT
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Alpha Industries has a current ratio of 2.4, quick ratio of 1.6, and current assets of $720,000. The company's inventory turnover ratio is 8 times per year, and cost of goods sold is $1,920,000. If the company implements a just-in-time inventory system that reduces average inventory by 40% while maintaining the same sales level, what will be the new quick ratio assuming all other current asset and liability components remain unchanged?
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