If you could answer all 4 that would be greatly appreciated, thanks

1.

A companys inventory records report the following:

August 1	Beginning balance	32 units @ $22
August 5	Purchase	27 units @ $21
August 12	Purchase	31 units @ $22

On August 15, it sold 64 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?

• $2,340

• $592

• $572

• $1,408

• $1,534

2.

Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to cost of goods sold using FIFO.

Date	Activities	Units Acquired at Cost	Units Sold at Retail
May 1	Beginning Inventory	270 units @ $12
5	Purchase	280 units @ $14
10	Sales		200 units @ $22
15	Purchase	160 units @ $15
24	Sales		150 units @ $23

• $4,360

• $4,510

• $4,840

• $5,200

• $5,050

3.

Use the following information for Shafer Company to compute inventory turnover for year 2.

		Year 2			Year 1
Net sales	$	649,000		$	583,200
Cost of goods sold		388,800			360,870
Ending inventory		78,000			79,680

• 5.93

• 7.32

• 4.08

• 4.93

• 8.32

4.

On December 31 of the current year, Plunkett Company reported an ending inventory balance of $217,000. The following additional information is also available:

• Plunkett sold and shipped goods costing $38,400 to Savannah Enterprises on December 28 with shipping terms of FOB shipping point. The goods were not included in the ending inventory amount of $217,000.
• Plunkett purchased goods costing $44,400 on December 29. The goods were shipped FOB destination and were received by Plunkett on January 2 of the following year. The shipment was a rush order that was supposed to arrive by December 31. These goods were included in the ending inventory balance of $217,000.
• Plunkett's ending inventory balance of $217,000 included $15,400 of goods being held on consignment from Carole Company. (Plunkett Company is the consignee.)
• Plunkett's ending inventory balance of $217,000 did not include goods costing $95,400 that were shipped to Plunkett on December 27 with shipping terms of FOB destination and were still in transit at year-end.

Based on the above information, the amount that Plunkett should report in ending inventory on December 31 is:

• $172,600

• $195,600

• $211,000

• $157,200

• $201,600