Chapter 6, Problem 9BTN

To determine

Inventory:

Inventory is an asset of the company which includes work in progress, raw material and finished goods which are in the process of making or already ready to be sold in the market. In other words inventory is goods which are unsold and would be sold.

1.

To compute: Percentage that cash represents of current assets, total current assets, current liabilities, and shareholder’s equity.

2.

To determine

Percentage change between the current and prior year cash balances.

3.

To determine

To compute:

Day’s sales uncollected at the end of current and previous year.