The 2020 financial statements of Felix Ltd. reported beginning inventory of $280,000, ending inventory of $390,000, and cost of goods sold of $1,600,000 for the year. To one decimal, Felixs inventory turnover ratio for 2020 is a. 0.5 times. b. 4.5 times. c. 4.9 times. d. 5.0 times. 10. The end of the month bank statement shows a balance of $59,000, outstanding cheques are $16,000, a deposit of $7,000 was in transit at month end, and a cheque for $1,800 was incorrectly charged by the bank against the account, therefore, the correct balance in the bank account at month end is a. $51,800. b. $40,800. c. $40,200. d. $40,000. 11. Zoey Inc. owns bonds that are accounted for under the fair value through net income model. On December 31, 2020, the bonds have a carrying value of $246,700. The fair value at that date is $285,000. The entry to record the year-end adjustment will include a debit to a. FVNI Investments. b. Investment Income or Loss. c. Unrealized Holding Loss on FVOCI Investments. d. Other Comprehensive Income.