Enter the missing dollar amounts for the income statement for each of the following independent cases:

Select Apparel purchased 90 new shirts and recorded a total cost of $2,816 determined as follows:

Invoice cost

$

2,330

Shipping charges

185

Import taxes and duties

161

Interest (6.0%) on $2,330 borrowed to finance the purchase

140

$

2,816

Jones Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory information about the five major items stocked for regular sale follows:

	ENDING INVENTORY, CURRENT YEAR
Item	Quantity on Hand			Unit Cost When Acquired (FIFO)				Net Realizable Value (Market) at Year-End
A		51			$	16			$	13
B		81				31				41
C		11				49				53
D		71				26				31
E		351				11				6

Required:

Compute the valuation that should be used for the current year ending inventory using the LCM rule applied on an item-by-item basis.

Cases A E Sales Revenue Inventory 1,060 300 1 200 1,400 170 880 1,120 1,000 1.060 630 920 Total Ending Available inventory Goods sold 640 270 440 230 1,120 Gross Profit s 240 420 190 170 140 180 Pretax Income (Loss) 270 150 (140)