Question: ave & Exit Submit Haskell Corporation has determined its year-end inventory on a FIFO basis to be $825,000. Information pertaining to that inventory is as

ave & Exit Submit Haskell Corporation has determined its year-end inventory on a FIFO basis to be $825,000. Information pertaining to that inventory is as follows: Selling price $865, 000 Costs to sell 55, 000 Replacement cost 785, 090 What should be the reported value of Haskell's inventory if the company prepares its financial statements according to International Financial Reporting Standards (IFRS)? Multiple Choice $720,000. $825,000. O $810,000. $785,000 9:50 PM 7/26/2022 HOLDCHBOWHelp Save & Exit Submit On July 1, 2021, Larkin Co. purchased a $490,000 tract of land that is intended to be the site of a new office complex. Larkin incurred additional costs and realized salvage proceeds during 2021 as follows: Demolition of existing building on site $77,090 Legal and other fees to close escrow 12, 400 Proceeds from sale of demolition scrap 9 , 800 What would be the balance in the land account as of December 31, 2021? Multiple Choice $579,400. O $569,600 $567,000. $490,000. 9:54 PM 7/26/2022 HOLDCZBOOThe balance sheets of Davidson Corporation reported net fixed assets of $340,000 at the end of 2021. The fixed-asset turnover ratio for 2021 was 3.0, and sales for the year totaled $1,440,000. Net fixed assets at the end of 2020 were: Multiple Choice $760,000. $480,000. O $620,000. O None of these answer choices are correct. 9:50 PM 2 OLDCHBRO 7/26/2022Submit Grab Manufacturing Co. purchased a 10-ton draw press at a cost of $188,000 with terms of 2/15, n/45. Payment was made within the discount period. Shipping costs were $5,200, which included $350 for insurance in transit. Installation costs totaled $11,900, which included $4,500 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the 10-ton draw press is: Multiple Choice $201,340. O $204,840. O $199,340. O $206,340 9:50 PM 7/26/202 HOLDCZBRO

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