8.

9.

10.

11.

During 2021, a company sells 500 units of inventory for $89 each. The company has the following inventory purchase transactions for 2021 Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov.) Purchase Number of Units 71 264 182 512 Unit Cost Total cost 577 $ 5,467 20,592 B0 14,560 $40,619 78 Calculate cost of goods sold and ending inventory for 2021 assuming the company uses the weighted average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Cost of goods sold Ending inventory Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $74,000 and $3,900, respectively. During Year 2, Allegheny wrote off $7.200 of Uncollectible Accounts. Using the percent of receivables method, Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $6,000. What amount will Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement? Multiple Choice 59,300 o 56.000 $2100 57.200 Watch dates carefully On January 1st, Year 1. Copley Company purchased a truck that cost $27,000. The truck had an expected useful life of 4 years and a $6,000 salvage value. The amount of depreciation expense recognized in Year 2 assuming that Copley Company uses the double declining balance method would be? CH $6,750 $13,500 $5,250 $10,500 Burger Chef acquired a delivery truck on March 1, Year 1, for $29,100. The company estimates a residual value of $2,700 and a four- year service life. It expects to drive the truck 66,000 miles. Actual mileage was 12,500 miles in Year 1 and 13,300 miles in Year 2. Calculate depreciation expense using the Units-of-Production method for Year 2, assuming a December 31 year-end. (Do not round Intermediate calculations.) Year Depreciation Expense Year 2