The inventory turnover for 2016 was: 0.57 0.64 C) 0.59 D) 1.71 E) None of the above 7. Note 3 to the 2016 financial statements Valley Vineyards following: ents of Willamette Valley Vineyards reports that Inventories consist of the 2015 2016 ng and packaging materials 817,836 690,292 6,058,701 Work-in-process Finished goods Total inventories 6,634,014 4.518,806 3,883,469 $11,970,656 $10,632,462 The company reported cost of goods sold of $7.204,884 in 2016 and $7.092.111 in 2015. At 015. At December 31, 2014 A) Compute average days inventory outstanding for both years. B) What does this ratio me an? 8. EZ Wheels Corporation manufactures kick scooters. The compan y offers a one-year warranty on all scooters. rned During 2017, the company recorded net sales of $1.900 million. Historically, about 4% of all sales are retu under warranty and the cost of repairing and or replacing goods under warranty is about 30% of retall vatu Assume that at the start of the year EZ Wheels' balance she million and at the end of the year, the accrued warranty liability balance was $12.4 million. et included an accrued warranty liability of $16.3 What was EZ Wheels Corporation's warranty expense for 2017? A) 12.4 million B) 22.8 million C) 76.0 million D) 26.7 million E) None of the above 9. C hang, Inc. issued amount of interest has accrued as of 12/31/17? A) 750.00 B) S 725.81 C) 739.73 D) $6,000.00 a 120-day note in the amount of $360,000 on 12/16/17 with an annual rate of 5%, what 2