1. Information on CC Co.'s December 31, 2020 inventory is shown below: Product A Product B Product C Purchase Price 100,000 250,000 300,000 Freight in 12,000 30,000 36,000 Selling price 210,000 300,000 570,000 Freight out 10,500 75,000 11,400 What amount of inventory should be reported in December 31, 2020 balance sheet? Group of answer choices A. 983,100 B. 938,100 C. 763,000 D. 673,000 2. Under PAS 10, an entity shall disclose all o f the following in each material category of non-adjusting events, except: Group of answer choices A. The nature of the event B. Astatement that an estimate of event's financial effects cannot be made C. A statement that an entity chooses to classify the event as anon-adjusting event rather than as an adjusting event . D. The estimate of the event' s financial effects 3. Which of the following is not a required disclosure for inventories in the financial statements? Group of answer choices A. The carrying amount of inventories pledged as collateral security B. The amount of inventory write-downs during the period C. The circumstances that lead to the write-downs of inventories D. The carrying amount o f inventories per major classification 4. Which of the following statements is not true? Group of answer choices A. Inventory at the end of the period reduces cost of sales for the period. B. Purchases returns for the period reduces cost of sales. C. Inventory at the beginning reduces cost of sales. D. Inventory at the end of the period is equivalent to unexpired expense. 5. How should the following changes be treated? A change is to be made in the method of calculating the provision for uncollectible receivables. Investment properties are now measured at fair value, having previously been measured at cost. Group of answer choices A. (1) Change in accounting policy; (2)Change in accounting policy B. (1) Change in accounting policy; (2)Change in accounting estimate C. (1) Change in accounting estimate; (2) Change in accounting policy D. (1) Change in accounting estimate; (2)Change in accounting estimate