2- Dividing ending inventory by cost of goods sold and multiplying the result by 365 is the:

Multiple Choice

• Inventory turnover ratio.

• Profit margin.

• Days' sales in inventory.

• Current ratio.

• Total asset turnover.

5- A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's:

Multiple Choice

• Cost of goods sold.

• Cost of goods purchased.

• Cost of goods available.

• Beginning merchandise inventory.

• Ending merchandise inventory.

  9 - Which of the following is not part of the sales activity in the flow of manufacturing activities?

• Multiple Choice

• Beginning Finished Goods Inventory.

• Cost of Goods Manufactured.

• Total Finished Goods available for sale.

• Ending Work in Process Inventory.

• Cost of Goods Sold.

  10 - Refer to the following selected financial information from WorkFit Corporation. Compute the company's acid-test ratio.

  Cash	$	42,250
  Short-term investments		60,000
  Accounts receivable, net		79,500
  Merchandise inventory		115,000
  Prepaid expenses		9,700
  Accounts payable		111,400

  Multiple Choice

• 2.75.

• 2.66.

• 0.92.

• 1.12.

• 1.63.

  15 - Using the information below, compute the days' sales in raw materials inventory:

  Raw materials used	$	121,600
  Beginning raw materials inventory		18,000
  Ending raw materials inventory		20,200

  Multiple Choice

• 6.76.

• 6.02.

• 54.0.

• 60.6.

• 6.37.