1. The Bread Basket purchased kitchen equipment on July 1, 2020, for $181000 on account. At that time, the equipment was estimated to have a useful life of 20,000 hours and no residual value. The equipment was used for 1,000 hours in 2020 and 2,500 hours in 2021. The Bread Basket uses the units of production method of depreciation. What is the balance of the accumulated depreciation - equipment account on December 31, 2021 (after all depreciation has been recorded)? Round your response to the nearest dollar.

2.

Fragrant Flowers Inc. reports the following inventory transactions for its bouquets for the month of December. The company uses a perpetual inventory system.

Date	Description	Units	Unit Cost	Total Cost
Dec 1	Beginning inventory	30	$55	$1,650
Dec 6	Purchases	15	$45	$675
Dec 9	Sales	(35)
Dec 14	Purchases	20	$40	$800
Dec 20	Sales	(25)
Dec 28	Purchases	20	$35	$700

Required:

Determine the cost of ending inventory at December 31 using the weighted average cost method. Use unrounded numbers in your interim calculations but round to the nearest cent (2 decimal places) for your final answer.

3.

The following amounts came from the inventory records of Clean Living Supplies Ltd.:

Net sales revenue	$748200
Beginning inventory	70,000
Ending inventory	50,000
Purchases	500,000

Required: Calculate the company's gross profit.

Kent Inc. sells retractable screen doors and uses a perpetual inventory system to account for its merchandise. The beginning balance of screen doors and transactions during June of last year were as follows:

June 1	Opening balance: 85 units costing $242 each
June 5	Purchased 120 units costing $265 each
June 11	Sold 55 units
June 19	Sold 45 units
June 23	Purchased 75 units costing $275 each
June 25	Sold 45 units
June 30	Sold 70 units

Required:

Calculate Kent Inc.'s cost of goods sold for the month of June assuming the company keeps its records on a FIFO basis. Round your answer to the nearest dollar.