# ACC 290 Entire Course

ACC/290

PRINCIPLES OF ACCOUNTING I

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https://uopcourses.com/category/acc-290/

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ACC 290 Week 1 Preparing an Income Statement, Retained Earnings Statement, and Balance Sheet

Purpose of Assignment

The purpose of this assignment is to help students become familiar with the presentation of the income statement and the retained earnings statement, including how parts of the financial statement is evaluated to determine the operational success of the business.

Assignment Steps

Resources: Financial Accounting: Tools for Business Decision Making, p. 36

Scenario: On June 1, 2017, Elite Service Co. was started with an initial investment in the company of \$22,100 cash. Below are the assets, liabilities, and common stock of the company June 30, 2017, and the revenues and expenses for the month of June, its first month of operations:

Cash

\$ 4,600

Notes payable

\$12,000

Accounts receivable

4,000

Accounts payable

500

Service revenue

7,500

Supplies expense

1,000

Supplies

2,400

Maintenance and repairs expense

600

400

Utilities expense

300

Equipment

26,000

Salaries and wages expense

1,400

Common stock

22,100

In June, the company issues no additional stock but paid dividends of \$1,400.

Prepare an income statement, retained earnings statement, and balance sheet analyzing your findings using the questions below, in a total of 1,050 words:

Briefly address whether the company’s first month of operations was a success.

Discuss the company’s decision to distribute a dividend.

Click the Assignment Files tab to submit your assignment.

ACC 290 Week 1 Practice Quiz

Complete the Week 1 Practice Quiz in WileyPLUS

Practice Question 05

In which forms of business organization are the owners personally liable for all the debts of the business?

Sole proprietorships and corporations

Sole proprietorships and partnerships

Partnership and corporation

All of the answer choices are correct

Practice Question 10

Which of the following is not an external user of accounting data?

Customers

Economic planners

Labor unions

Chief Financial Officer

Practice Question 26

The financial statements for Harold Corporation contained the following information:

Accounts receivable

\$ 5,000

Sales revenue

75,000

Cash

15,000

Salaries and wages expense

20,000

Rent expense

10,000

How much was Harold’s net income?

\$60,000

\$65,000

\$45,000

\$15,000

Practice Question 29

In which of the following sequences are the financial statements usually prepared?

Balance sheet, statement of cash flows, income statement and retained earnings statement.

Balance sheet, retained earnings statement, statement of cash flows, and income statement.

Income statement, retained earnings statement, balance sheet, and statement of cash flows.

Income statement, balance sheet, retained earnings statement, and statement of cash flows.

Practice Question 48

Which of the following are not considered to be primary users of financial statements in countries outside the U.S.?

Private investors

Central government planners

Tax authorities

Practice Question 14

For 2017, Stoneland Corporation reported net income, \$24,000; net sales, \$400,000; and average shares outstanding, 6,000. There were no preferred stock dividends. How much was the 2017 earnings per share?

\$4.00

\$0.06

\$16.67

\$66.67

Practice Question 23

The following ratios are available for Leer Inc. and Stable Inc.

Current Ratio

Debt to Assets Ratio

Earnings per Share

Leer Inc.

2:1

75%

\$3.50

Stable Inc.

1.5:1

40%

\$2.75

Compared to Stable Inc., Leer Inc. has

lower liquidity, higher solvency, and higher profitability.

higher liquidity, higher solvency, but profitability cannot be compared based on information provided.

higher liquidity, lower solvency, and higher profitability.

higher liquidity and lower solvency, but profitability cannot be compared based on information provided.

Practice Question 18

At December 31, 2017, Shorts Company had retained earnings of \$2,184,000. During 2017, the company issued stock for \$98,000, and paid dividends of \$34,000. Net income for 2017 was \$402,000. How much was the retained earnings balance at the beginning of 2017?

\$2,454,000

\$1,816,000

\$2,552,000

\$1,914,000

Practice Question 27

Which of the following ratios measures the ability of the company to survive over a long period of time?

Profitability ratios

Current ratios

Liquidity ratios

Solvency ratios

Practice Question 38

What are the accounting rules that have substantial authoritative support and are recognized as a general guide for financial reporting purposes in the U. S.?

Generally accepted auditing principles

Generally accepted accounting principles

General accounting principles

Generally accepted accounting standards

ACC 290 Week 2 Charter for Collaborative Learning Activities

Resources: Week 2 Learning Team Collaborative Discussion and the Learning Team Charter for Collaborative Learning Activities

Write a 150- to 200-word individual response to the following:

Consider the multiple definitions of collaboration.

Define collaboration and how you will apply it in this course based upon the discussion with your Learning Team. Be sure to reference and cite your sources.

Click the Assignment Files tab to submit your assignment and be sure to attach a copy of your Learning Team Charter for Collaborative Learning Activities.

ACC 290 Week 2 Analyzing the Effect of Transactions

Purpose of Assignment

The purpose of this assignment is to help you become familiar with examining transactions and how it affects the balance sheet.

Assignment Steps

Resources: Financial Accounting: Tools for Business Decision Making

Write a minimum 150-word response to each of the following scenarios from Exercise E3-1 inFinancial Accounting (p. 132) describing the effect of each transaction on assets, liabilities, and stockholder’s equity:

Selected transactions for Thyme Advertising Company, Inc.

Issued common stock to investors in exchange for cash received from investors.

Paid monthly rent.

Received cash from customers when service was performed.

Billed customers for services performed.

Paid dividend to stockholders.

Received cash from customers billed in (4).

Purchased equipment on account.

Click the Assignment Files tab to submit your assignment.

ACC 290 Week 2 Practice Quiz

Complete the Week 1 Practice Quiz in WileyPLUS

Practice Question 20

Which accounts normally have debit balances?

Assets, liabilities, and dividends

Assets, dividends, and expenses

Assets, expenses, and retained earnings

Assets, expenses, and revenues

Practice Question 26

Which of the following is the correct sequence of events?

Analyze a transaction; record it in the journal; post it to the ledger

Record a transaction in the journal; analyze the transaction; post it to the ledger

None of the answer choices provides the correct sequence

Analyze a transaction; post it to the ledger; record it in the journal

Practice Question 32

Where is the first place every transaction is recorded?

In the ledger

In the respective accounts

In the basic accounting equation

In the journal

Practice Question 38

What type of account is unearned revenue?

Asset

Liability

Revenue

Expense

Practice Question 45

Accounts are listed on the trial balance in

the order that they appear in the ledger.

the order in which they are posted.

alphabetical order.

chronological order.

Practice Question 05

The generally accepted accounting principle which dictates that revenue be recognized in the accounting period in which the performance obligation is satisfied is the

revenue recognition principle.

accrued revenues principle.

periodicity assumption.

expense recognition principle.

Practice Question 10

Which statement is correct?

As long as a company consistently uses the cash-basis of accounting, generally accepted accounting principles allow its use.

The use of the cash-basis of accounting violates both the revenue recognition and expense recognition principles.

The cash-basis of accounting is objective because no one can be certain of the amount of revenue until the cash is received.

As long as management is ethical, there are no problems with using the cash-basis of accounting.

Practice Question 21

decrease revenues and decrease assets.

increase assets and increase revenues.

increase liabilities and increase revenues.

decrease liabilities and increase revenues.

Practice Question 26

At December 31, 2017, before any year-end adjustments, Macarty Company’s Prepaid Insurance account had a balance of \$2,700. It was determined that \$1,500 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be

\$2,700.

\$1,900.

\$1,500.

\$1,200.

Practice Question 53

Which is the correct order of steps in the accounting cycle?

Prepare financial statements, prepare adjusting entries, prepare closing entries, prepare a post-closing trial balance.

Journalize and post transactions, journalize and post closing entries, journalize and post adjusting entries.

Post transactions, journalize transactions, prepare a trial balance, prepare financial statements.

Journalize and post transactions, journalize and post adjusting entries, journalize and post closing entries.

ACC 290 Week 3 Preparing a Multiple‐Step Income Statement

Purpose of Assignment

The purpose of this assignment is to help you become familiar with the parts of the multiple‐step income statement.

Assignment Steps

Resources: Financial Accounting: Tools for Business Decision Making

Scenario: An inexperienced accountant prepared this condensed income statement for Simon Company, a retail firm that has been in business for a number of years.

SIMON COMPANY

Income Statement

For the Year Ended December 31, 2017

Revenues

Net sales

\$850,000

Other revenues

22,000

872,000

Cost of goods sold

555,000

Gross profit

317,000

Operating expenses

Selling expenses

109,000

103,000

212,000

Net earnings

\$105,000

As an experienced, knowledgeable accountant, you review the statement and determine the following facts:

Net sales consist of: sales \$911,000, less freight-out on merchandise sold \$33,000, and sales returns and allowances \$28,000.

Other revenues consist of sales discounts \$18,000 and rent revenue \$4,000.

Selling expenses consist of salespersons’ salaries \$80,000, depreciation on equipment \$10,000, advertising \$13,000, and sales commissions \$6,000.  The commissions represent commissions paid. At December 21, \$3,000 of commissions have been earned by salespersons but have not been paid.  All compensation should be recorded as Salaries and Wages Expense.

Administrative expenses consist of office salaries \$47,000, dividends \$18,000, utilities \$12,000, interest expense \$2,000, and rent expense \$24,000, which includes prepayments totaling \$6,000 for the first quarter of 2018.

Prepare a detailed multi-step income statement with a brief explanation of 700 words. Assume a 25% tax rate.

Click the Assignment Files tab to submit your assignment.

ACC 290 Week 3 Practice Quiz

Complete the Week 1 Practice Quiz in WileyPLUS

Practice Question 01

The operating cycle of a merchandising company is ordinarily shorter than that of a service company.

True

False

Practice Question 05

The operating cycle of a merchandising company is ordinarily ___________________ that of a service firm.

has fewer steps than

longer than

the same as

shorter than

Practice Question 24

Which statement is true when recording the sale of goods for cash in a perpetual inventory system?

Only one journal entry is necessary. It will record the receipt of cash and sales revenue.

Two journal entries are necessary: one to record the receipt of cash and reduction of inventory, and one to record the the cost of goods sold and sales revenue.

Two journal entries are necessary: one to record the receipt of cash and sales revenue, and one to record the cost of goods sold and to reduce inventory.

Only one journal entry is necessary. It will record cost of goods sold and reduce of inventory.

Practice Question 29

Net income is \$15,000, operating expenses are \$20,000, and net sales total \$75,000. How much is cost of goods sold?

\$40,000

\$15,000

\$35,000

\$60,000

Practice Question 34

Which one of the following will result in gross profit?

Sales revenue less cost of goods sold

Operating expenses less cost of goods sold

Operating expenses less net income

Sales revenue less operating expenses

Practice Question 39

Under what system is cost of goods sold determined at the end of an accounting period?

Double entry inventory system

Single entry inventory system

Perpetual inventory system

Periodic inventory system

Practice Question 45

Net income is \$15,000, operating expenses are \$20,000, net sales total \$75,000, and sales revenues total \$95,000. How much is the profit margin?

75%

79%

20%

16%

Practice Question 57

In a periodic inventory system, when is the cost of the merchandise sold determined?

At the time of the sale

At the end of the period

Periodically during the period

Either at time of sale, end of period or periodically during the period

Question 5

Waymon Co. has net sales of \$100,000, cost of goods sold of \$70,000, and operating expenses of \$18,000. What is its gross profit?

Gross profit

\$

Question 6

Masie Ascot believes revenues from credit sales may be recorded before they are collected in cash. Do you agree? Explain.

ACC 290 Week 4 Comparative Analysis Problem: Amazon.com, Inc. vs. Wal-Mart Stores, Inc.

Purpose of Assignment

The purpose of this assignment is to evaluate the inventory section of two companies using basic comparative analysis, and to interpret the data to gain insight about the company’s inventory management.

Assignment Steps

Resources: Appendices D and E located in Financial Accounting: Tools for Business Decision Making

Write a 1,050-word comparative analysis using the financial statements of Amazon.com, Inc. presented in Appendix D, and the financial statements for Wal-Mart Stores, Inc., presented in Appendix E, including the following:

Compute these 2014 values for each company based on the information in the financial statements:

Inventory turnover (Use cost of sales and inventories)

Days of inventory

Conclusions concerning the management of the inventory can you draw from this data.

Show work on Excel® spreadsheet and submit with analysis.

Click the Assignment Files tab to submit your assignment.

ACC 290 Week 4 Practice Quiz

Practice Question 50

A company just starting business made the following inventory transactions in August:

Purchase on August 1

300 units

\$1,560

Sale on August 8

200 units

3,400

Purchase on August 12

400 units

1,340

Sale on August 24

350 units

5,950

Using the LIFO inventory method, how much is cost of goods sold for August using a perpetual inventory system?

\$2,120

\$2,212.50

\$6,450

\$9,350

Practice Question 49

August 1

300 units

\$1,560

August 12

400 units

2,340

August 24

400 units

2,520

August 30

300 units

1,980

1,400 units

\$8,400

A physical count of the inventory on August 31 reveals that there are 500 units on hand. Using the FIFO inventory method in a perpetual inventory system, how much is the value of the ending inventory on August 31?

\$3,240

\$2,730

\$5,670

\$5,160

Practice Question 48

Which statement is true in a perpetual inventory system?

A new average is computed under the average cost method after each sale.

Average costs are based entirely on unit-cost simple averages.

LIFO cost of goods sold will be the same as in a periodic inventory system.

FIFO cost of goods sold will be the same as in a periodic inventory system.

Practice Question 43

Inventory turnover is calculated by dividing cost of goods sold by

average inventory.

beginning inventory.

365 days.

ending inventory.

Practice Question 42

Net sales are \$2,000,000, cost of goods sold is \$960,000, and average inventory is \$30,000. How many days sales are in inventory?

2.6

12.2

11.4

66.7

Practice Question 40

The following information came from the income statement of the Wilkens Company at December 31, 2017: sales revenue \$1,800,000; beginning inventory \$160,000; ending inventory \$240,000; and gross profit \$600,000. What is Wilkens’ inventory turnover ratio for 2017?

3.0 times

6.0 times

2.5 times

3.75 times

Practice Question 39

Carlos Company had beginning inventory of \$80,000, ending inventory of \$110,000, cost of goods sold of \$285,000, and sales revenue of \$475,000. What is Carlos’ days in inventory?

84.5 days

73 days

121.7 days

102.5 days

Practice Question 30

In a period of falling prices, which of the following methods will give the largest net income?

FIFO

Specific identification

Average-cost

LIFO

Practice Question 28

In a period of rising prices which inventory method will result in the greatest amount of income tax expense?

Specific identification

FIFO

Average cost

LIFO

Practice Question 17

Which of the following is true of the FIFO inventory method?

It assumes that the cost of the earliest units purchased are the last to be allocated to the beginning inventory.

It assumes that the cost of the earliest units purchased are the last to be allocated to cost of goods sold.

It assumes that the cost of the earliest units purchased are the first to be allocated to the ending inventory.

It assumes that the cost of the earliest units purchased are the first to be allocated to cost of goods sold.

ACC 290 Week 5 Preparing Comprehensive Bank Reconciliation with Theft and Internal Control Deficiencies

Purpose of Assignment

Reconciling bank accounts is a good way to help maintain internal controls over cash. With time lags and posting errors it is easy for cash transactions to be omitted, recorded in a different accounting period, or reflect incorrect amounts. This assignment with give you practical experience in reconciling the cash balance as noted on the company books to the bank’s records.

Assignment Steps

Resources: Financial Accounting: Tools for Business Decision Making

Scenario: Daisey Company is a very profitable small business. It has not, however given much consideration to internal control.  For example, in an attempt to keep clerical and office expenses to a minimum, the company has combined the jobs of cashier and book-keeper. As a result, Bret Turrin handles all cash receipts, keeps the accounting records, and prepares the monthly bank reconciliations.

The balance per the bank statement on October 31, 2017, was \$18,380. Outstanding checks were No. 62 for \$140.75, No. 183 for \$180, No. 284 for \$253.25, No. 862 for \$190.71, No. 863 for \$226.80, and No. 864 for \$165.28. Included with the statement was a credit memorandum of \$185 indicating the collection of a note receivable for Daisey Company by the bank on October 25.

This memorandum has not been recorded by Daisey.

The company’s ledger showed one Cash account with a balance of \$21,877.72. The balance included undepositied cash on hand. Because of the lack of internal controls, Bret took for personal use all of the undeposited receipts in excess of \$3,795.51. He then prepared the following bank reconciliation in an effort to conceal his theft of cash:

Cash balance per books, October 31

\$21,877.72

No. 862

\$190.71

No. 863

226.80

No. 864

165.28

482.79

22,360.51

Less: Undeposited receipts

3,795.51

Unadjusted balance per bank, October 31

18,565.00

Less: Bank credit memorandum

185.00

Cash balance per bank statement, October 31

\$18,380.00

Prepare a 1,050-word bank reconciliation report (hint: deduct the amount of the theft from the adjusted balance per books) including the following:

Indicate the three ways that Bret attempted to conceal the theft and the dollar amount involved in each method.

What principles of internal control were violated in this case?

Show all work in the Excel® spreadsheet and submit with the reconciliation report.

Click the Assignment Files tab to submit your assignment.

ACC 290 Week 5 Practice Quiz

Practice Question 01

Internal controls guarantee the accuracy and reliability of the accounting records.

True

False

Practice Question 02

Which of the following is not an element of the fraud triangle?

Financial pressure

Segregation of duties

Opportunity

Rationalization

Practice Question 03

Which one of the following is not a primary component of an internal control system?

Risk assessment

Information and communication

Monitoring

Rationalization

Practice Question 04

Which of the following is a reason why an organization establishes a system for internal control?

To safeguard its assets.

To increase efficiency of operations.

To ensure compliance with laws and regulations.

All of these answer choices are correct.

Practice Question 14

For what purpose are physical controls used in a business?

To deter employee dishonesty.

To enhance the accuracy and reliability of its accounting records and to safeguard its assets.

To prevent fraud.

To produce accurate financial statements.

Practice Question 19

Handly Inc. permits only designated personnel such as cashiers to handle cash receipts. What principle is being applied?

Segregation of duties

Establishment of responsibility

Independent internal verification

Rotation of employees

Practice Question 21

Which internal control principle is most important in a control system for handling cash receipts?

Independent internal verification

Segregation of duties

Physical controls

Documentation procedures

Practice Question 36

Which one of the statements below is true?

Both deposits in transit and outstanding checks are added to the balance per the bank statement during the bank reconciliation process.

Deposits in transit are deducted from the balance per the bank statement, and outstanding checks are added to the balance per the bank statement during the bank reconciliation process.

The deposits in transit are added to the balance per the bank statement, and outstanding checks are deducted from the balance per the bank statement during the bank reconciliation process.

Both deposits in transit and outstanding checks are deducted from the balance per the bank statement during the bank reconciliation process.

Practice Question 37

As used in a bank reconciliation, how are deposits in transit handled?

Deducted from the bank balance

Deducted from the book balance

Practice Question 38

Why should a bank reconciliation be prepared?

To explain any difference between the bank deposits and the checks written.

To explain any difference between the depositor’s balance per books and the balance per bank.

To make sure the actual cash balance is the same as the cash received from customers.

To make sure employees have not committed fraud.

ACC 290 Week 5 Final Exam

Question 1

The best definition of assets is the

resources belonging to a company that have future benefit to the company.

cash owned by the company.

collections of resources belonging to the company and the claims on these resources.

Question 2

Which of the following is not a liability?

Accounts Payable

Accounts Receivable

Unearned Service Revenue

Interest Payable

Question 3

Which of the following financial statements is divided into major categories of operating, investing, and financing activities?

The statement of cash flows.

The retained earnings statement.

The income statement.

The balance sheet.

Question 4

Ending retained earnings for a period is equal to beginning

Retained earnings + Net income + Dividends.

Retained earnings + Net income – Dividends.

Retained earnings – Net income + Dividends.

Retained earnings – Net income – Dividends.

Question 5

Which of the following is not an advantage of the corporate form of business organization?

No personal liability

Favorable tax treatment

Easy to raise funds

Easy to transfer ownership

Question 6

its ownership is easily transferable via the sale of shares of stock.

it is simple to establish.

it has limited life.

its owner’s personal resources are at stake.

Question 7

A small neighborhood barber shop that is operated by its owner would likely be organized as a

partnership.

joint venture.

corporation.

proprietorship.

Question 8

If services are rendered for cash, then

liabilities will decrease.

stockholders’ equity will decrease.

assets will increase.

liabilities will increase.

Question 9

A revenue generally

increases assets and stockholders’ equity.

increases assets and decreases stockholders’ equity.

leaves total assets unchanged.

increases assets and liabilities.

Question 10

A revenue account

is increased by credits.

has a normal balance of a debit.

is increased by debits.

is decreased by credits.

Question 11

Which accounts normally have debit balances?

Assets, expenses, and dividends

Assets, expense, and retained earnings

Assets, expenses, and revenues

Assets, liabilities, and dividends

Question 12

In recording an accounting transaction in a double-entry system

the amount of the debits must equal the amount of the credits.

there must only be two accounts affected by any transaction.

the number of debit accounts must equal the number of credit accounts.

there must always be entries made on both sides of the accounting equation.

Question 13

The usual sequence of steps in the transaction recording process is

journalize, analyze, post to the ledger.

analyze, journalize, post to the ledger.

journalize, post to the ledger, analyze.

post to the ledger, journalize, analyze.

Question 14

Under the expense recognition principle expenses are recognized when

they are billed by the supplier.

they contribute to the production of revenue.

they are paid.

Question 15

The revenue recognition principle dictates that revenue should be recognized in the accounting records:

at the end of the month.

in the period that income taxes are paid.

when the performance obligation is satisfied.

Question 16

Merchandising companies that sell to retailers are known as

corporations.

wholesalers.

service firms.

brokers.

Question 17

Gross profit equals the difference between

net income and operating expenses.

sales revenue and cost of goods sold plus operating expenses.

sales revenue and operating expenses.

sales revenue and cost of goods sold.

Question 18

Net income will result if gross profit exceeds

cost of goods sold.

cost of goods sold plus operating expenses.

purchases.

operating expenses.

Question 19

Under the perpetual system, cash freight costs incurred by the buyer for the transporting of goods is recorded in which account?

Inventory

Freight-In

Freight-Out

Freight Expense

Question 20

Financial information is presented below:

Operating expenses

\$ 30000

Sales revenue

187000

Cost of goods sold

153000

The profit margin ratio would be

0.98.

0.82.

0.02.

0.18.

Question 21

Financial information is presented below:

Operating expenses

\$ 22000

Sales returns and allowances

5000

Sales discounts

5000

Sales revenue

150000

Cost of goods sold

108000

The gross profit rate would be

0.75.

0.21.

0.26.

0.23.

Question 22

Financial information is presented below:

Operating expenses

\$ 42000

Sales returns and allowances

3000

Sales discounts

8000

Sales revenue

140000

Cost of goods sold

98000

Gross Profit would be

\$45000.

\$42000.

\$39000.

\$31000.

Question 23

The LIFO inventory method assumes that the cost of the latest units purchased are

the first to be allocated to ending inventory.

the last to be allocated to cost of goods sold.

the first to be allocated to cost of goods sold.

not allocated to cost of goods sold or ending inventory.

Question 24

Which of the following statements is correct with respect to inventories

The FIFO method assumes that the costs of the earliest goods acquired are the last to be sold.

It is generally good business management to sell the most recently acquired goods first.

Under FIFO, the ending inventory is based on the latest units purchased.

FIFO seldom coincides with the actual physical flow of inventory.

Question 25

All of the following are examples of internal control procedures except

using prenumbered documents.

reconciling the bank statement.

customer satisfaction surveys.

insistence that employees take vacations.

Question 26

Each of the following is a feature of internal control except

recording of all transactions.

separation of duties.

an extensive marketing plan.

bonding of employees.

Question 27

For which of the following errors should the appropriate amount be subtracted from the balance per books on a bank reconciliation?

Check written for \$85, but recorded by the company as \$58.

Deposit of \$500 recorded by the bank as \$50.

A returned \$100 check recorded by the bank as \$10.

Check written for \$93, but recorded by the company as \$39.

Question 28

A check written by the company for \$119 is incorrectly recorded by a company as \$191. On the bank reconciliation, the \$72 error should be

added to the balance per books.

deducted from the balance per bank.

deducted from the balance per books.

added to the balance per bank.

Question 29

The following information was available for Concord Corporation at December 31, 2017: beginning inventory \$95000; ending inventory \$128000; cost of goods sold \$620000; and sales \$936000. Concord inventory turnover ratio (rounded) in 2017 was

6.5 times.

8.4 times.

5.6 times.

4.8 times.

Question 30

The following information was available for Skysong, Inc. at December 31, 2017: beginning inventory \$79000; ending inventory \$106000; cost of goods sold \$640000; and sales \$832000. Skysong days in inventory (rounded) in 2017 was

52.9 days.

60.8 days.

40.6 days.

45.1 days.