Re-posting question from yesterday with a different credit card acct number due to CC company issue. This is the multiple choice (total of 4) doc. Sorry for the mix up. Vicki

Course Hero / Tuesday March 3, 2015 - 4 Multiple Choice questions (Finance) 1) Denver Interiors, Inc., has sales of $970,000 and cost of goods sold of $710,000. The firm had a beginning inventory of $38,000 and an ending inventory of $43,000. What is the length of the inventory period? a. 13.53 days b. 19.57 days c. 18.95 days d. 20.82 days e. 14.57 days 2) The Athletic Sports Store has a beginning receivables balance on January 1 of $520. Sales for January through April are $250, $280, $360 and $420, respectively. The accounts receivable period is 60 days. How much did the firm collect in the month of April? Assume that a year has 360 days. a. $360 b. $250 c. $280 d. $420 e. $500 ____________________________________________________________________________ _______ 3)The Wire House purchases its inventory one quarter prior to the quarter of sale. The purchase price is 60 percent of the sales price. The accounts payable period is 45 days. The accounts payable balance at the beginning of quarter one is $22,500. What is the amount of the expected disbursements for quarter two given the following expected quarterly sales? Quarter 1: $34,000 Quarter 2: $36,000 Quarter 3: $45,200 Quarter 4: $54,200 a. $22,700 b. $21,200 c. $35,300 d. $24,360 e. $28,000 Course Hero / Tuesday March 3, 2015 - 4 Multiple Choice questions (Finance) 4) Your firm generally receives 4 checks a month. The check amounts and the collection delay for each check is shown below. Given this information, what is the amount of the average daily float? Assume a 30-day month. Item Number Item Amount Delay 1 $2,600 5 2 $9,300 5 3 $4,000 3 4 $2,400 3 a. 3,331.63 b.7,109.23 c. 5,246.67 d. 5,010.57 e. 2,623.33