of the Select 5 problems nine shown, and complete EXCELi Show all formulas and related work. Please identify the selected problem on your worksheet. on LU 18-la EXTRA PRACTICE QUIZ WITH WORKED-OUT SOLUTIONS From the following, calculate (a) the cost of ending inventory and (b) the cost of goods sold under the assumption of (1) weighted average. (2) FIFO, and (3) LIFO (ending inven- tory shows 58 units): Number of books Cost purchased for resale per unit Total January 1 inventory 20 $4 $ 80 March 1 60 3 180 April 1 40 200 November 1 50 7 350 LU 17-la EXTRA PRACTICE QUIZ WITH WORKED-OUT SOLUTIONS 2 1. Prepare a depreciation schedule using straight-line depreciation for the following: Cost of truck $20,000 Residual value $ 2.000 Life 3 years 2. If the truck were bought on February 3, what would the depreciation expense be in the first year? USE STRAIGHT- LINE DEPRECIATON METHOD LU 17-2a EXTRA PRACTICE QUIZ WITH WORKED-OUT SOLUTIONS From the following facts prepare a depreciation schedule: Machine cost $30,000 Residual value $ 2,000 Expected to produce 56,000 units over its expected life 2012 2013 2014 2015 Units produced 1,000 6.000 4,000 2,000 2016 2,500 USE UNITS OF PRODUCTION METHOD