35.

Widmer Corporations accounting records disclosed the following information regarding purchases of inventory item no. 329 during May:

During the month of May, Widmer sold 150 units at a price of $16.10 each. Calculate the ending inventory using a FIFO inventory system.

	$505
	$805
	$600
	$635

36.

Capturing, recording, summarizing and reporting financial performance is the accounting function of:

	Planning
	Attention-directing
	Scorekeeping
	Problem solving

38.

Identify the internal control for information systems that is concerned with preventing unauthorized access, modification or destruction of stored data.

39.

Sally's Sweets is experiencing a severe cash shortage because of its inability to collect accounts receivable on a timely basis. The ratio that would be most helpful in identifying corrective action to be taken would be the:

	Current ratio
	Gross profit ratio
	Collection period
	Acid-test (quick) ratio

Beginning inventory Purchase Purchase Purchase Date May 1 May 3 May 10 May 21 Units 50 40 90 20 Unit Cost $10.10 $11.00 $12.00 $13.75 Total Cost $505 $440 $1080 $275