1. Goodman Gadgets Company has the following inventory and purchases during the fiscal year ended December 31, 2020.

Beginning Inventory				295	units	@	$	83/unit
March	10	purchased		210	units	@	$	87/unit
March	20	sold		375	units	@	$	163/unit
May	13	purchased		277	units	@	$	81/unit
August	5	purchased		260	units	@	$	67/unit
September	10	sold		515	units	@	$	163/unit

Goodman Gadgets Company employs a perpetual inventory system. Question: Calculate ending inventory, cost of goods sold, sales, and gross profit using FIFO and moving weight average

2. Aqua Inc had a fire on March 10, 2020, that destroyed a major portion of its inventory. The salvaged accounting records contained the following information:

Sales, January 1 to March 10	$	355,600
Net merchandise purchased January 1 to March 10		187,400
Additional information was determined from the 2019 annual report:
Income statement:
Sales	$	3,300,000
Cost of goods sold		1,782,000
Balance sheet:
Merchandise inventory		299,100
Quebec Traffic was able to salvage inventory with a cost of $106,300.

Question: Determine the amount of inventory lost by Aqua Inc as a result of the fire. The company has a December 31 year-end.

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