13. During periods of falling prices, a periodic inventory system would result in the same dollar amount of cost of goods sold as a perpetual inventory system under which of the following inventory cost flow methods? (1) LIFO; (2) FIFO. a. (1) Yes; (2) No b. (1) No; (2) Yes c. (1) Yes; (2) Yes d. (1) No: (2) No 14. A markup of 25% on cost is equivalent to what markup on selling price? a. 80% b. 75% c. 25% d. 20% 15. A depreciable asset has an estimated 10% salvage value. At the end of its estimated useful life, the accumulated depreciation would equal the original cost of the asset under which of the following depreciation methods? (1) Sum-of-the-years-digits; (2) Productivity output. a. (1) Yes; (2) Yes b. (1) No; (2) No c. (1) Yes; (2) No d. (1) No; (2) Yes 16. On May 20, 2021, Porter Co. incurred the following costs for one of its' equipment: Purchase of equipment Installation of equipment Replacement parts for renovation Labor and overhead in connection with renovation 30,000 4,000 10,000 7,000 The renovation did not increase the estimated useful life of the equipment. However, the renovation resulted in significantly increased productivity. What amount of the costs should be capitalized