Cash equivalents include checks coins and currency money market accounts and commercial paper stocks and short-term bonds Use the information below to answer the following questions. The following units of an inventory item were available for sale during the year: Beginning inventory First purchase Second purchase Third purchase 10 units at $55 25 units at $60 30 units at $65 15 units at $70 The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory using FIFO is $1,250 $1,350 $1,375 $1,150 During a bank reconciliation process, outstanding checks and deposits in transit are added to the bank statement balance outstanding checks are subtracted and deposits in transit are added to the bank statement balance outstanding checks and deposits in transit are subtracted from the bank statement balance outstanding checks are added and deposits in transit are subtracted from the bank statement balance Garrison Company uses the retail method of inventory costing. It started the year with an inventory that had a retail cost of $45,000. During the year, Garrison purchased an inventory with a retail sales value of $300,000. After performing a physical inventory, Garrison calculated the inventory at retail to be $80,000. The markup is 100% of cost. Determine the ending inventory at its estimated cost. O $160,000 $80,000 $40,000 $45,000 During the year, Tempo Inc. has monthly cash expenses of $115,000. On December 31, its cash balance is $1,437,500. The ratio of cash to monthly cash expenses is 8.0 months O 12.5 months 87.5 months 11.5 months