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College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1. The company buys coasters from one suppliet. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 1,000 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.50. College Costers records its inventory veing perpetual inventory accounts and the fiFO cost flow method During December, the company entered into the following transactions. Some of these transactions are explained in greater detail below. a Purchased 500 coasters on account from the regular supplier on 12/1 at a unit cost of $0.52, with terms of n/60. b. Purchased 1,000 coasters on account from the regular supplier on 12/2 at a unit cost of $0.55, with terms of n/60. c. Sold 2,000 coasters on account on 12/3 at a unit price of $0.90. d Collected $1,000 from customers on account on 12/4 e. Paid the supplier $1,600 cash on occount on 12/18. 7. Paid employees $500 on 12723 of which $300 related to work done in November and $200 was for wages up to December 22 g. Loaded 100 coasters on a cargo ship on 12/31 to be delivered the following week to a customer in Kona. Hawait. The sale was made FOB destination with terms of n/60. Other relevant information includes the following at 12/31 : h. College Coasters has not yet recorded $200 of office expenses incurred in December on account. i. The company estimates that the equipment depreciates at a rate of $10 per month. One month of depreciation needs to be recorded. j. Wages for the period from December 2331 are $100 and will be paid on January 15. k. The $600 of Prepaid Rent relates to a six-month period ending on May 31 of next year. 1. The company incurred $789 of income tax but has made no tax payments this year. m. No shrinkage or damage was discovered when the inventory was counted on December 31. n. The company did not declare dividends and there were no transactions involving common stock. Caiculate the inventory turnover ratio and days to sell, assuming that inventory was $500 on January 1 of this year. (Use 365 days a year. Round your intermediate calculations and final answers to 1 decimal place.) Use the dropdowns to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selectlon. However, you witt need to enter the amount of the Equipment (Net of accumulated depreclation), Common stock and Retained earnings as of December 31. College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1. The company buys coasters from one suppliet. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 1,000 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.50. College Costers records its inventory veing perpetual inventory accounts and the fiFO cost flow method During December, the company entered into the following transactions. Some of these transactions are explained in greater detail below. a Purchased 500 coasters on account from the regular supplier on 12/1 at a unit cost of $0.52, with terms of n/60. b. Purchased 1,000 coasters on account from the regular supplier on 12/2 at a unit cost of $0.55, with terms of n/60. c. Sold 2,000 coasters on account on 12/3 at a unit price of $0.90. d Collected $1,000 from customers on account on 12/4 e. Paid the supplier $1,600 cash on occount on 12/18. 7. Paid employees $500 on 12723 of which $300 related to work done in November and $200 was for wages up to December 22 g. Loaded 100 coasters on a cargo ship on 12/31 to be delivered the following week to a customer in Kona. Hawait. The sale was made FOB destination with terms of n/60. Other relevant information includes the following at 12/31 : h. College Coasters has not yet recorded $200 of office expenses incurred in December on account. i. The company estimates that the equipment depreciates at a rate of $10 per month. One month of depreciation needs to be recorded. j. Wages for the period from December 2331 are $100 and will be paid on January 15. k. The $600 of Prepaid Rent relates to a six-month period ending on May 31 of next year. 1. The company incurred $789 of income tax but has made no tax payments this year. m. No shrinkage or damage was discovered when the inventory was counted on December 31. n. The company did not declare dividends and there were no transactions involving common stock. Caiculate the inventory turnover ratio and days to sell, assuming that inventory was $500 on January 1 of this year. (Use 365 days a year. Round your intermediate calculations and final answers to 1 decimal place.) Use the dropdowns to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selectlon. However, you witt need to enter the amount of the Equipment (Net of accumulated depreclation), Common stock and Retained earnings as of December 31

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