13) For 2017, cost of goods available for sale for Tate Corporation was $4,500.000. The gross profit rate on sales was 20%. Sales for the ending inventory? the year were $4,000,000. What was the amount of A. $o. B. $1,300,000 C. $900,000 D. $800,000. 14) The cost of a nonmonetary asset acquired in exchange for another nonmonetary asset when the exchange has commercial substance is usually recorded at A the fair value of the asset given up, and a gain or loss is recognized B. the fair value of the asset given up, and a gain but not a loss may be recognized. C. the fair value of the asset received if it is equally reliable as the fair value of the asset given up D. either the fair value of the asset given up or the asset received, whichever results in the largest gain (smallest loss) to the company one 15) Buerhle Company needs to determine if its indefinite-life intangibles other than goodwill have been impaired and should be reduced or written off on its balance sheet. The impairment test(s) to be used is (are) e ARecovers Yes Yes No No Yes No Yes No B. C. D, 16) Blue Sky Company's 12/31/18 balance sheet reports assets of $7.000,000 and liabilities of $2,800,000. All of Blue Sky's assets' book values approximate their fair value, except for land, which has a fair value that is $420,000 greater than its book value. On 12/31/18, Horace Wimp Corporation paid $7,140,000 to acquire Blue Sky. What amount of goodwill should Horace Wimp record as a result of this purchase? B. $140,000 C. $2.520,000 D. $2,940,000 17) Robust Inc. has the following information related to an item in its ending inventory. Acer Top has a cost of $25, a replacement cost of $23, a net realizable value of $27, and a normal profit margin of $3. What is the final lower-of-cost-or-market inventory value for Acer Top? A. $23. B. $25 C. $24 D. $27