A retailer had a beginning merchandise inventory of $45,000, an ending merchandise inventory of $55,000, sales of $550,000, and a cost of goods sold of $400,000. The retailers daily sales in inventory was:

Select one:

a.50.2 days

b.48.5 days

c.37.9 days

d.45.6 days

2.

A business has the following items at year-end, $1,500 in post-dated cheques, $300 in petty cash, $15,000 invested in 60-day Government of Canada treasury bills, $1,300 cash refund due from the Canada Revenue Agency, and $8,900 in a bank chequing account.

Select one:

a.

$22,850

b.

$25,500

c.

$24,200

d.

$27,000

e.

$25,700

e.41.1 days