Double entry book-keeping was created many centuries back in Europe and journal entries were an integral part of the book keeping system. At the end of the accounting period, all variances are closed to the account. Multiple Choice 0 Work in Process 0 Finished Goods 0 Cost of Goods Manufactured 0 Cost of Goods Sold Grommet Corp. makes heavy duty industrial fasteners. The Corporation has revenues of $1,580,000 resulting in an operating income of $183,000. Average invested assets total $781,000. Calculate the ROI if sales increase by 10% and the profit margin and investment level remain constant. (Round your intermediate calculations and final answers to 2 decimal places.) Multiple Choice 12.89% 25.82% 11.58% 24.37%