1: A company has inventory of 12 units at a cost of $11 each on November 1. On November 5, they purchased 7 units at $14 per unit. On November 12 they purchased 18 units at $16 per unit. On November 15, they sold 30 units. Using the FIFO periodic inventory method, what is the value of the inventory at November 15 after the sale?

2

A company's warehouse was destroyed by a tornado on March 15. The following information was the only information that was salvaged: Inventory, beginning: $25,000 Purchases for the period: $14,000 Sales for the period: $49,000 Sales returns for the period: $800 The company's average gross profit ratio is 40%. What is the estimated cost of the lost inventory?

3:

Fluffy Pet Grooming deposits all cash receipts on the day when they are received and all cash payments are made by check. At the close of business on June 30, its Cash account shows a $14,811, debit balance. Fluffy Pet Grooming's June 30 bank statement shows $14,472 on deposit in the bank. The following information is available:

a.	Outstanding checks as of June 30 total $2,261.
b.	The June 30 bank statement included a $75 debit memorandum for bank services.
c.	Check No. 919, listed with the canceled checks, was correctly drawn for $789 in payment of a utility bill on June 15. Fluffy Pet grooming mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $798.
d.	The June 30 cash receipts of $2,534 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.

What is the adjusted bank balance?

4: Triple Company's accountant made an entry that included the following items: debit postage expense $12.48, debit office supplies expense $27.39, debit cash over/short $2.25. If the original amount in petty cash is $320.00, how much is in petty cash before the reimbursement?

5: : In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December's utilities was correctly written and drawn for $835, but was erroneously entered in the accounting records as $385. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation?

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