“Selected data for three companies are given below. All inventory amounts are ending balances and all amounts are in millions.Requirement:Using the above data, calculate total current assets for each company. ”
Company A:Cash = $7Accounts Receivable = $12Raw Material Inventory = $8Work-in-Process Inventory = $5Finished Goods Inventory = $9Total Current Assets = $41Company B:Cash = $16Accounts Receivable = $5Total current assets = $21Company C:Cash = $28Accounts Receivable = $11Merchandise Inventory = $5Total current Assets = $44