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2. Solve the problem.(Part 1) A furniture store has an average inventory of $5444 at retail, and an average inventory of $3460 at cost. The cost of goods sold for the same period is $19,756.60 and sales of furniture were $30,867.48. Find (a) Stock turnover at cost, and (b) stock turnover at retail. Round to the nearest hundredth.

		(a) 1.57, (b) 1.56
		(a) 5.67, (b) 5.71
		(a) 3.63, (b) 8.92
		(a) 5.71, (b) 5.67

3. Solve the problem. After using a new order of typewriter ribbons, John's Office Services found that a new ribbon could be used to type 76 pages. This was a decrease of 15.5% of pages from the old ribbons. How many pages could John's Office Services type with an old ribbon? Round to the nearest whole number.

		104 pages
		81 pages
		76 pages
		90pages 6) (Part 2) On a new oak bookcase with a list price of $882, a series discount of 15/5/5 is offered to wholesalers while a series discount of 15/15 is offered to retailers. a) What is the wholesalers price? b) What is the retailer's price? A) ( a) $676.60; (b) $244.76 B) ( a) $661.50; (b) $220.50 C) ( a) $205.40; (b) $244.76 D) ( a) $676.60; (b) $637.25 7) A company recorded its check #2754 in its accounting records as $98. However, check #2754 was actually written for $89 and it cleared the bank as $89. What adjustment is needed to the Cash balance per books? A) Decrease by $9 B) Increase by $9 C) None Needed D) Refund of $9 to the check recipient 9) Charles Nave, bank teller, has weekly earnings of $610. He is married and claims 3 withholding allowances. His deductions include FICA, Medicare, federal withholding, state disability insurance, state withholding, and credit union savings of $50. Find his net pay. $ 463.21 B) $ 453.51 C) $ 425.49 D) $ 513.21

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