please solve it, please do it As soon as possible . its my Exam time is very limited . thanks

1. Lawson Manufacturing Company has tha foll...... pount balances at year-end: A) $109,000 B) $113,000. (C) $195,000. D) 5199,000 . 2. Goods in transit which are shipped fo.b. shipping point should be A) included in the inventory of the seller. (B) included in the inventory of the buyer. C) included in the inventory of the shipping company. D) None of these answer choices are correct. 3. Where should goods in transit that were recently purchased fo.b. destination be included on the balance sheet? A) Accounts payable. (B) Inventory. C) Equipment. D) Not on the balance sheet. 4. Which of the following is a characteristic of a perpetual inventory systetn? A) Inventory purchases are debited to a Purchases account. B) Inventory records are not kept for every item. E) Cost of goods sold is recorded with each saie. D) Cost of goods sold is determined as the amount of purchases less the change in inventory. 5. Elkins Corporation uses the perpetual inventory and the gross method, On March I, it purchased $50,000 of inventory, terms 2/10, n/30. On March 3, Elkins returned goods that cost $5,000. On March 9, Elkins paid the supplier. On March 9 , Elkins should credit A) purchase discounts for $1,000. B) inventory for $1,000. C) purchase discounts for $900. D) inventory for $900