Season tickets for the dingos are priced at $360 and include 18 home games. an equal amount of revenue is recognized after each game is played. when the season began, the amount credited to unearned ticket revenue was $1,944,000. by the end of october, $1,404,000 of the unearned ticket revenue had been recognized as revenue.

Elephant, inc.'s cost of goods sold for the year is $2,000,000, and the average merchandise inventory for the year is $129,000. calculate the inventory turnover ratio of the company. (round your answer to two decimal places.)

Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.

Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.