This study investigated whether children's inversion shortcut use (i.e., reasoning that no calculations are required for the problem 4 x 8 divided by 8, as the answer is the first number) is related to their analogical reasoning ability, short-term memory capacity, and working memory capacity. Children from Grades 6 and 8 solved multiplication and division inversion problems and classical analogy word problems and completed memory tasks. Analogical reasoning ability and working memory functioning both accounted for individual variance in inversion shortcut use. These findings suggest that the ability to understand relationships and executive functioning may enable children to internally represent and manipulate mathematical problems, facilitating the application of conceptual mathematical knowledge to generate the inversion shortcut. (Contains 3 figures and 6 tables.)