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Soriano Company had net sales of $$300,000$ for the month after returns and allowances of $$1,500$ and sales discounts of $$3,250.$ Beginning inventory for the month was $$60,000$; purchases for the month were $$175,000$; and gross profit was $43\%.$

What was the ending inventory for the month?

Multiple Choice

$$60,000$

$$64,000$

$$12$

Venus Wholesale Company started carrying a new product in December. Purchases and sales of this product during the month were:

December $20$: Purchased $250$ units at $$95$ per unit.

December $26$: Sold $235$ units.

December $28$: Purchased $250$ units at $$102$ per unit.

Venus uses a perpetual inventory system and the LIFO method. What is the cost of the inventory of this product that is on hand at the end of December?

Multiple Choice

$$ $$25,280$

$$26,925$

$$27,125$

$$23,750$

$$175,000$