Question $11$

A firm has beginning inventory of $300$ units at a cost of $$10$ each. Production during the period was $600$ units at $$12$ each. If sales were $800$ units, what is the value of the ending inventory using FIFo?

$$9,000$

$$3,250$

$$3,600$

$$7,800$

Question $12$

Calculate times interest earned ratio for a firm with gross profit of $$300,000$ and operating expense of $$100,000,$ if interest expense for the firm is $$50,000.$

$4$

$2$

$5$

$10$