1.

Corresponds to CLO 8(c) Halting Corporation has the following inventory data: September 1, beginning inventory of 430 units at $11; September 8, purchases of 350 units at $12; September 21, purchases of 460 units at $14. A physical count of inventory on September 30 reveals that there are 400 units on hand. Using the weighted average inventory method, rounding the unit cost to the nearest penny, what is cost of goods sold for September?

$10,357

$4,960

$10,416

$4,932

2.

Corresponds to CLO 9(a) The following balance sheet and income statement data is available for Gold River Corporation: Current assets$125,000; Total assets$520,000; Net income$345,000; Current liabilities$80,000; Total liabilities$150,000; Stockholders' equity$370,000; Average common shares outstanding 10,000. What is Gold River's current ratio?

3.47

1.64

1.56

0.83

3.

Corresponds to CLO 9(b) The following balance sheet data is available for Pinpoint Products: Current assets$50,000; Property, plant, and equipment,$70,000Other assets$10,000; Current liabilities$30,000; Long-term liabilities$22,000; Stockholders' equity$78,000; Average common shares outstanding 10,000. What is Pinpoint's debt to total assets, shown as a percentage?

		60%
		45%
		67%
		40%