1: On January 1, FIFA, Inc. has 500 units of Product 317 that it purchased for $7.10 each. On January 13, FIFA purchases 700 more units at $7.73 each. If FIFA uses a FIFO cost flow assumption, and 440 units of Product 317 are on hand at January 31, what is the cost of January's ending inventory?

2:

On January 1, Walmart, Inc. has 300 units of Product 804 that it purchased for $9.10 each. On January 13, Walmart purchases 700 more units at $9.78 each.

If Walmart uses an average cost flow assumption, and 340 units of Product 804 are on hand at January 31, what is January's cost of goods sold?

3:

Belmont, LLC's 2020 inventory under dollar value LIFO consisted of the following layers:

Year	Inventory at base year dollars	Price index	Dollar value LIFO inventory
2018	$120,000	100	$120,000
2019	10,000	105	10,500
2020	0	108	0
Total	$130,000		$130,500

If December 31, 2021 inventory at 2021 prices is $148,500, and the 2021 price index is 110, how much is inventory using dollar value LIFO at December 31, 2021?

4:

The following data concerning the conventional retail inventory method are taken from the financial records of Bentley Company.

Cost

Retail

Beginning inventory

$ 98,000

$ 140,000

Purchases

448,000

640,000

Freight-in

12,000

Net markups

40,000

Net markdowns

28,000

Sales

672,000

Ending inventory at cost is: