Question 4 The working capital ratio is: Not yet answered Points out of 2.5 Flag question Select one: a. Calculated by dividing total assets by total liabilities. b. Always equal to or lower than the quick ratio c. Always equal to or higher than the quick ratio d. Calculated by subtracting total assets from total liabilities. Question 5 Use this information to answer the following question. Not yet answered Jan. 1 Inventory 15 units @ $4.00 Points out of 2.5 8 Purchase P Flag question 60 units @ $4.40 17 Purchase 30 units @ $4.20 25 Purchase 45 units @ $4.80 Total sales 100 units Assuming that a periodic inventory system is used, what is the cost assigned to ending inventory under FIFO? Select one: a. $452 b. $429 c. $214 d. $237 Question 6 Given the following Ending Inventory errors for the Portland Company: Not yet answered Year Ending Inventory Error Points out of 2.5 2020 Overstated $40 Flag question 2021 Understated $30 Indicate the error in the following items: Select one: 2021 Net Income 12/31/21 Retained Earnings Understated $10 Understated $10 b. 2021 Net Income 12/31/21 Retained Earnings Overstated $10 Overstated $10 C. 2021 Net Income 12/31/21 Retained Earnings Understated $30 Understated $10 2021 Net Income 12/31/21 Retained Earnings Understated $30 Understated $30 e. 2021 Net Income 12/31/21 Retained Earnings Understated $70 Understated $30