Answer:
Carla Vista Corp. has Inventory of $7,109,540
Step-by-step explanation:
Carla Vista Corp. has current liabilities of $4,354,000, and a quick ratio of 0.99
The quick ratio is calculated by the following formula:
Quick ratio = (Cash & equivalents + Short Term investments + Accounts receivable)/Current Liabilities
(Cash & equivalents + Short Term investments + Accounts receivable) = Quick ratio x Current Liabilities = $4,354,000 x 0.99 = $4,310,460
Total current assets = (Cash & equivalents + Short Term investments + Accounts receivable) + Inventory
Inventory = Total current assets - (Cash & equivalents + Short Term investments + Accounts receivable) = $11,420,000 - $4,310,460 = $7,109,540