Answer:
29) a. 2.31; b. 2.28
30) 200
31) $51.24
Explanation:
29) Turns at cost:
... cost of goods/(average inventory at cost) = 44532.18/19278 = 2.31
Turns at retail:
... retail sales/(average inventory at retail) = 87305.76/38292 = 2.28
30) 6 months of 30 days plus 4 extra days in July, August, October, and December, plus the 16 days from the 2nd to the 18th is ...
... 6×30 +4 +16 = 200 . . . days
31) We assume the credit union computes ordinary interest, using 360 days in a year.
... I = Prt = $2170×0.10×(85/360) = $51.24