Wholesome Ltd. has a days in inventory ratio of 50 and average inventory of $320,000. What is its cost of goods sold?

	$2,336,000
	$2,191,780
	cannot be determined
	$16,000,000

Use the following information to answer the question: Cost of goods sold $434,000 Income tax expense 67,200 Operating expenses 344,000 Sales 1,100,000 Sales discounts 24,000 Sales returns and allowances 74,000

The gross profit margin would be

	34.3%
	43.3%
	39.5%
	56.7%

An employee authorized to sign cheques should not record

	Shipping Documents
	Mail Receipts
	Cash Disbursement Transactions
	Sales Transactions

A Corporation gathered the following reconciling information in preparing its October bank reconciliation: Cash balance per books, October 31 $6,200 Deposits in transit 225 Electronic collection of account receivable 1,150 Bank charge for cheque printing 25 Outstanding cheques 1,700 NSF cheque 200 The reconciled cash balance per books at October 31 is

	$7,125
	$5,200
	$5,650
	$6,900