$1.$ Square$9$ Corporation has provided the following information about one of its laptop computers:

Date Transaction Number of Units Cost per Unit

$1/1$ Beginning Inventory $300$ $$600$

$5/5$ Purchase $400$ $$650$

$8/10$ Purchase $500$ $$700$

$10/15$ Purchase $300$ $$750$

During the year, Square$9$ sold $1,250$ laptop computers.

What was ending inventory using the FIFO cost flow assumption?

Multiple Choice

$$187,500.$

$$150,000.$

$$182,500.$

$$160,000.$

$2.$ Laurel Industries sold merchandise with an invoice price of $$1,400$ to Calvary Company, with terms of $2/10,$ n$/30.$ Which of the following is the correct entry to record the payment by Calvary within $10$ days if the company uses the perpetual inventory system and the gross method to record purchases?

$3.$Alderwood Company has provided the following information prior to any year$-$end bad debt adjustment:

Cash sales, $$463,000$

Credit sales, $$1,389,000$

Selling and administrative expenses, $$369,000$

Sales returns and allowances, $$129,000$

Gross profit, $$1,509,000$

Accounts receivable, $$369,000$

Sales discounts, $$81,000$

Allowance for doubtful accounts credit balance, $$4,120$

Alderwood estimates bad debt expense assuming that $1\mathrm{.}5\%$ of credit sales have historically been uncollectible. How much is Alderwood's bad debt expense?

$4.$ Boulder, Incorporated is computing its inventory at December $31,2022.$ The following information relates to the five major inventory items regularly stocked for resale:

Item Quantity on Hand Ending Inventory, December $31,2022$ Unit Cost when Acquired $($FIFO$)$ Net Realizable Value $($Market$)$ at December $31,2022$

A $280$ $$58$ $$53$

B $330$ $$68$ $$70$

C $115$ $$118$ $$98$

D $480$ $$78$ $$80$

E $880$ $$33$ $$30$

Required:

Using the lower of cost or net realizable value, compute the total valuation for each inventory item at December $31,2022,$ and the total inventory valuation.