1. Cinnamon Buns Co. (CBC) started 2016 with $53,000 of merchandise on hand. During 2016, $284,000 in merchandise was purchased on account with credit terms of 3/10 n/30. All discounts were taken. Purchases were all made f.o.b. shipping point. CBC paid freight charges of $9,000. Merchandise with an invoice amount of $2,600 was returned for credit. Cost of goods sold for the year was $307,000. CBC uses a perpetual inventory system. What is cost of goods available for sale, assuming CBC uses the gross method?

2. On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $114,000. The 2016 ending inventory, valued at year-end costs, was $165,000. The relative cost index for this inventory in 2016 was 1.20. Assume that Badger's 2017 ending inventory, valued at year-end costs, was $176,400 and that the relative cost index for this inventory in 2016 was 1.26. Suppose that Badger's 2018 ending inventory, valued at year-end costs, was $182,000 and that the relative cost index for this inventory in 2018 was 1.30. What inventory balance would Badger report on its 12/31/18 balance sheet?

3. Northwest Fur Co. started 2016 with $105,000 of merchandise inventory on hand. During 2016, 450,000 in merchandise was purchased on account with credit terms of 4/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $8,600. Merchandise with an invoice amount of $3,100 was returned for credit. Cost of goods sold for the year was $369,000. Northwest uses a perpetual inventory system. What is ending inventory assuming Northwest uses the gross method to record purchases?

4. Northwest Fur Co. started 2016 with $109,000 of merchandise inventory on hand. During 2016, $580,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $7,600. Merchandise with an invoice amount of $3,300 was returned for credit. Cost of goods sold for the year was $362,000. Northwest uses a perpetual inventory system. Assuming Northwest uses the gross method to record purchases, what is the cost of goods available for sale?