1.Crane Companyhad January 1 inventory of $290000when it adopted dollar-value LIFO. During the year, purchases were $1700000and sales were $2900000. December 31 inventory at year-end prices was $367200, and the price index was108.

What is Crane Company's ending inventory?

$367200.

$319000.

$340000.

$344000.

2Sunland Companyadopted the dollar-value LIFO method of inventory valuation on December 31, 2016. Its inventory at that date was $1020000and the relevant price index was100. Information regarding inventory for subsequent years is as follows:

DateInventory at

Current PricesCurrent

Price IndexDecember 31, 2017$1184490107December 31, 20181450000125December 31, 20191625200130

What is the cost of the ending inventory at December 31, 2017 under dollar-value LIFO?

$1113090.

$1091400.

$1107000.

$1184490.

3.Transactions for the month of June were:

PurchasesSalesJune 1(balance) 3160 @$3.20June 22360 @$5.7038890 @3.1066410 @5.7074880 @3.3093980 @5.70157120 @3.40101500 @6221960 @3.50185580 @625800 @6

Assuming thatperiodicinventory records are kept in units only, the ending inventory on an average-cost basis, rounded to the nearest dollar, is

$17804.

$16951.

$17539.

$17684.