What is the inventory period for a firm with an annual cost of goods sold of $8 million, $1.5 million in average inventory, and a cash conversion cycle of 75 days?

A company’s balance sheet reports:

Cash $ 50,000 Accounts receivable 75,000 Inventory 110,000 Plant & equipment 95,000 Total assets $330,000 Current liabilities $105,000 Long-term liabilities 110,000 Stockholders’ equity 115,000 Total liabilities & stockholders’ equity $330,000 The debt ratio is: A. 0.65. B. 0.95. C. 1.19. D. 1.87.

Describe two tests of controls that would provide evidence that the database management system is protected against unauthorized access attempts