ANSWER ONLY 1.A company has an average inventory on hand of $100,000 and the days in inventory are 73 days. What is the cost of goods sold? (Assume that there are 365 days in a year.)

a.$500,000

b.$7,300,000

c.$1,000,000

d.$3,650,000

2.You are requested to reconstruct accounts of Jessie Trading for analysis. The following were available

Gross margin for 2020 amounts............................................................. P600,000

Beginning balance of Merchandise Inventory ........................................... 250,000

Long-term liabilities consisted of Bonds Payable with interest rate of 16 %

Total Stockholders' Equity , Dec 31, 2020................................................ 1,200,000

Gross margin ratio .................................................................................. 40%

Debt to equity ratio ............................................................................... . 1: 2

Times interest is earned ............... ...................................................... 5

Quick ratio .............................................................................................. 1.5 :1

Ratio of operating expense to sales......................................................... 15 %

Inventory turnover ............................................................................. 6 times

The bonds payable would be P ____________________

Question.

600,000 625,000 500,000 468,750