PARTH: Short Answer - Show all work for credit. question 1 (9 points) Determine the unit value that should be used for inventory costing following lower of cost of manat value. You may circle the amount that corresponds to each product or calculate your own value Product item: Cost A B C D E -$2.25 $2.35 247 9256 323 3242 Replacement cost 2.20 2.26 2.55 2.52 2.32 246 Net realizable value 2.50 2.50 2.50 245 250 250 Net realizable value less normal profit 2.30 2.30 2.30 2.302 302.30 Question 2 (5 points) Chess Top uses the periodic Inventory system. For the current month, the beginning inventory consisted of 360 units that cost $65 each. During the month, the company made two purchases: SAO units to each and 270 units at $70 each. Chess Top also sold 900 units during the month. Using the werage cost method what is the amount of ending inventory? Question 3 (6 points) Kettering Co. records purchase discounts lost and uses perpetual inventories. Prepare journal entries in general journal form for the following: (a) Purchased merchandise costing $7,500 with terms 2/10, 1/30. Record the net purchase. (b) $500 worth of unsatisfactory merchandise was returned to the seller (c) Payment was made twenty-five days after the purchase