6. A company had gross profit of $134,200 on net sales of $205,000. If ending inventory was $8,000 and average inventory was $7,080, what is the company's inventory turnover? A. 10.0 B. 8.85 C. 16.77 D. 18.95

7. A company's warehouse was destroyed by a tornado on March 15. The following information was the only information that was salvaged: Inventory, beginning: $28,000 Purchases for the period: $17,000 Sales for the period: $55,000 Sales returns for the period: $700 The company's average gross profit ratio is 35%. What is the estimated cost of the lost inventory? A. $9,705 B. $25,995 C. $29,250 D. $44,000

8. Shown below are a company's ledger accounts and their end-of-period balances after adjustments and before closing entries are posted. Required: What amount will be the ending Retained Earnings? (Assume all accounts have normal balances.)

A. $29,460; B. $48,460 C. $26,960 D. $14,000

10. A company has net sales of $1,832,000, sales commissions in the amount of $194,000, net income was $366,400, and the gross profit ratio is 60%, what is the amount of cost of goods sold?

A. $538,800 B. $732,800 C. $655,200 D. $879,360