13) Data related to the inventories of Kimzey Medical Supply are presented below Surgical Equipment $ 260 170 240 Surgical Supplies $ 120 Rehab Equipment S 340 250 235 Rehab Supplies $ 165 Selling price Cost Replacement cost Costs to sell Normal gross profit ratio 90 158 30 30 % 30% 30% 20% In applying the lower of cost or market rule, the inventory of rehab equipment would be valued at: A) $247. B) $235. C) 5315 D) $150 14) Data related to the inventories of Kimzey Medical Supply are presented below: 14) Equipment $ 260 Surgical Supplies S 120 90 Selling price Cost Replacement cost Costs to sell Normal gross profit ratio Rehab Equipment 340 250 235 170 240 Rehab Supplies $ 165 162 158 10 20 % 80 30 30 % 30% 30 % In applying the lower of cost or market rule, the inventory of rehab supplies would be valued at: A) S162 B) $155. C) $158. D) $122 15) On July 8, a fire destroyed the entire merchandise inventory on hand of Larrenaga Wholesale Corporation. The following information is available: Sales, January 1 through July 8 Inventory, January 1 Purchases, January 1 through July 8 Gross profit ratio $ 700,000 130.000 640,000 30 % What is the estimated inventory on July 8 immediately prior to the fire? A) 5510,000. B) S280,000. C) $192,000 D) $490,000 16) Coastal Shores Inc. (CSI) was destroyed by Hurricane Fred on August 5, 2018 AL January 1, CSI reported an inventory of $170,000. Sales from January 1, 2018, to August 5, 2018, totaled $480,000 and purchases totaled $195,000 during that time. CSI consistently marks up its products 60% over cost to arrive at a selling price. The estimated inventory loss due to Hurricane Fred would be A) $69.000 B) $65,000 C) $131,175 D) None of these answer choices are correct. 17) 17) Fad City sells novel clothes that are subject to a great deal of price volatility. A recent item that cost $20 was marked up $12, marked down for a sale by S6 and then had a markdown cancellation of $3. The latest selling price is: A) $26. B) $29. C) $23 D) $35. 18) 18) Harvey's Junk Jewelry started business January 1, 2018, and uses the LIFO retail method to estimate ending inventory. Listed below is data accumulated for the year ended December 31, 2018 Cost $ 15,000 49,000 2.500 1,700 Retail $23,000 78,000 Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Net sales Employee discounts 2,600 2,000 4,100 70.600 700 The numerator for the current period's cost-to-retail percentage is: A) $49.800. B) 564,800. C) 47,700 D) $48,100