'11 Sprint 4:56 PM 99% mail-attachment.goog leusercontent.com 9. During periods when inventory costs are rising, cost of goods sold will most likely be A. Higher under FIFO than LIFO B. Higher under FIFO than average cost. C. Lower under average cost than LIFO D. Lower under LIFO than FIFO 10. Shasta Expling purchases a piece of equipment on January 1, 2016, for $50,000 and the equipment has an expected useful life of five years. Its residual value is estimated to be $4,000. Assuming Shasta uses the double-declining balance depreciation method, what is the depreciation expense for the equipment for 2017? A. $9,200 B. S9,040 C. S12,000. D. $11,040. 11. Schager Company purchased a computer system on January 1, 2016, at a cost of $40,000. The estimated useful life is 10 years, and the estimated residual value is $5,000. Assuming the company will use the double-declining-balance method, what is the depreciation expense for the second year? A. $8,000 B. S7,000. C. S5,600. D. $6,400 12. Crestview Estates purchased a tractor on January 1, 2016, for S65,000. The tractor's useful life is estimated to be 30,000 miles and has a residual value of S5,000. If Crestview used the tractor 5,000 miles in 2016 and 3,000 miles in 2017, what is the balance for accumulated depreciation at the end of 2017 using the units of production method? A. $38,000 B. S6,000. C. S16,000 D. $10,000 13. Ace Electronics had cost of goods sold of S20,000. If purchases were S23,000 and ending inventory was S6,000, Ace's beginning inventory must have been: A. $3,000 B. S9,000 C. $26,000 D. $17,000 14. If a company's gross salaries and wages are $12,000, and it