1) The following data is given for Aquablue Inc. Calculate the ending inventory.

Cost of goods sold for 2016	$5,475,000
Beginning inventory	425,000
Days' sales in inventory	25 days

a.$450,000

b.$375,000

c.$400,000

d.$325,000

2)

Following is the information provided by Digitrex Co. for the month of September.

Date		Units		Unit Cost
September 1	Beginning inventory	200		$20
September 18	Purchase	500		$25
September 25	Purchase	400		$30
	Total	1,100

Digitrex sold 700 units in September. Calculate the cost of goods sold and the cost of ending inventory for the month of September using the first-in, first-out (FIFO) method.

a.Cost of goods sold is $12,500, and ending inventory is $16,000.

b.Cost of goods sold is $15,500, and ending inventory is $13,000.

c.Cost of goods sold is $16,500, and ending inventory is $12,000.

d.Cost of goods sold is $10,500, and ending inventory is $18,000.