1) Gurney Chandeliers sold 260 chandeliers for $870 each during the year. The company purchased 244 chandeliers during the year and had a January 1 inventory of 51 chandeliers, which all cost $530 each. Assume the company uses aperiodicinventory system and counts 29 chandeliers on hand at year-end.Record the December 31 year-end adjusting entry for the inventory count

2) Soft Sands Corp. uses "Dollar-value LIFO" for its inventory. The company's inventory at year-end prices is $753,000 at December 31, 20X1, and $842,000 at December 31, 20X2. If the price index for 20X1 is 100 and for 20X2 is 108, what should be theLIFO Reserve balanceat December 31, 20X2? You may round all inventory amounts to the nearest dollar.

3) Wilderness Condiments Co. has the following ending inventory information on December 31.

(total amount) Ketchup Mustard Mayonnaise Selling and $1,800 $2,200 $2,900 transportation costs Selling price $24,400 $17,500 $30,200 Historical cost $20,600 $16,200 $28,100 Replacement cost $25,700 $16,400 $24,900