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Here are the steps to solve this problem: 1. Gross profit percentage is 40% of sales. So gross profit is 40% of P900,000 sales = P360,000 2. Cost of sales = Sales - Gross profit = P900,000 - P360,000 = P540,000 3. Receivables = Sales/Receivables turnover = P900,000/5 = P180,000 4. Inventory = Cost of sales/Inventory turnover = P540,000/4 = P135,000 5. Current assets = Cash + Receivables + Inventory = P30,000 + P180,000 + P135,000 = P345,000

Author

Bry Lgn

Language

EN