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Current Attempt in Progress The following information was taken from the accounting records for Aurora...

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Accounting

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Current Attempt in Progress The following information was taken from the accounting records for Aurora Manufacturing, Inc.: Year 5 Unaudited Year 4 Audited Year 3 Audited Year 2 Audited Year 1 Audited Inventory Current assets $525.000 $460,000 $390,000 $310,000 $225,000 1,350,000 1.175,000 950.000 750,000 600,000 115,000 113,000 97,500 85,000 70,000 545,000 535,000 440,000 380,000 320,000 Accounts payable Current liabilities Sales 2,700.000 2.050,000 1,750,000 1,400,000 1,200,000 1,650,000 1,225,000 1,025,000 850,000 725,000 Cost of goods sold Industry Median Accounts payable turnover days Cost of goods sold to average accounts payable - 31 30 29 30 10.7 11.2 10.9 11.1 - 19 22 23 21 Current ratio Calculate the following information and ratios for years 2, 3, 4, and 5: (Round Purchases to O decimal places, eg, 15 and other answers to 2 decimal places, e.g. 15.25.) Year 3 Year 5 Unaudited Year 4 Audited Audited Year 2 Audited Purchases Accounts Payable Turnover in Days days days days days Cost of Goods Sold to Average Accounts Payable Current Ratio

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liabilities are defined as?