1) A company had inventory on November 1 of 3 units at a cost of $19 each. On November 2, they purchased 8 units at $23 each. On November 6 they purchased 5 units at $23 each. On November 8, 8 units were sold for $54 each. Using the FIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?

$172

$864

$184

$299

$241

2) Zapper has beginning equity of $293,000, net income of $69,000, dividends of $58,000 and investments by stockholders of $24,000. Its ending equity is:

$328,000.

$259,000.

$396,000.

$304,000.

$258,000.

3)

Prentice Company, Inc. had cash sales of $94,650, credit sales of $83,675, sales returns and allowances of $1,850, and sales discounts of $3,625. Prentices net sales for this period equal:

$174,700

$172,850.

$94,650.

$176,475.

$178,325.