As of January 31st, 2023, Walmart has a total current assets of $75,655 and a total current liabilities of $92,198. The Quick Ratio (Acid Test) is 20.70%. What is Walmart's inventory rounded to the nearest whole dollar?
To calculate Walmart's inventory, we first need to find the Quick Ratio (Acid Test) using the formula:
Quick Ratio = (Current Assets - Inventory) / Current Liabilities
Plugging in the given values:
20.70% = ($75,655 - Inventory) / $92,198
Now, we can solve for Inventory:
0.2070 * $92,198 = $75,655 - Inventory
$19,082.38 = $75,655 - Inventory
Inventory = $75,655 - $19,082.38
Inventory = $56,572.62
Rounded to the nearest whole dollar, Walmart's inventory is $56,573.