11. Victory Company purchases equipment at the beginning of the year at a cost of $15,000. The 7 years with a $1,000 salvage value. The book value at the end of 7 years is equipment is depreciated using the straight-line method and has a useful life estimated to be A. $2,143. B. $1,000. C. $2,000. D. $14,000. 12. A manufacturing company has a beginning finished goods inventory of $15,600, raw finished goods inventory of $18,800. The cost of goods sold for this company is: material purchases of $19,000, cost of goods manufactured of $34,500, and an ending A. $34,500. B. $50,100. C. $31,300. D. $29,600. 13. Romeo Corporation reports the following for the year: Finished goods inventory, January 1 $3,700 Finished goods inventory, December 31 4,500 Total cost of goods sold 15,200 The cost of goods manufactured for the year is: A. $10,700. B. $11,500. C. $19,700. D. $16,000. 14. The following information relates to the manufacturing operations of the JNR Company for the year: Beginning Ending Raw materials inventory $ 47,000 $50,000 Finished goods 58,000 50,000 The raw materials used in manufacturing during the year totaled $108,000. Raw materials purchased during the year amount to: A. $97,000. B. $111,000. C. $105,000. D. $116,000.