Using the following data for Waterway Industries, compute the return on assets (rounded).

Net Income	$145000
Total Assets 12/31/22	2465000
Total Assets 12/31/21	1960000
Net Sales	210000

5.9%

8.5%

6.6%

9.5%

Sheridan Company has the following inventory data:

July 1		Beginning inventory		25 units at $20		$500
7		Purchases		141 units at $24		3384
22		Purchases		24 units at $25		600
						$4484

2.A physical count of merchandise inventory on July 30 reveals that there are 41 units on hand. Using the average cost method, the value of ending inventory is

$968.

$1008.

$1025.

$984.