15 Bond Company adopted the dollar-value LIFO inventory method on January 1, 2021. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO: 6.5 points Year 1/1/2021 12/31/2021 12/31/2022 Ending Inventory At Year At Base End Year Cost $310,000 $310,000 345,600 320,000 424,800 354,000 Cost Index 1.00 1.08 1.20 % 02:35:00 Under the dollar-value LIFO method, the inventory at December 31, 2022, should be References 17 Cinnamon Buns Co. (CBC) started 2021 with $57,000 of merchandise on hand. During 2021, $290,000 in merchandise was purchased on account with credit terms of 2/10, n/30. All discounts were taken. Purchases were all made fo.b. shipping point. CBC paid freight charges of $14,000. Merchandise with an invoice amount of $6,000 was returned for credit. Cost of goods sold for the year was $326,000. CBC uses a perpetual inventory system. 6.5 points Assume instead that (a) freight costs were paid by the vendor, (b) no discounts were taken, and (c) the merchandise on hand at the beginning of 2021 was determined by a physical count that failed to realize that $15,000 of merchandise was being held on consignment for Frosting R Us Inc. What is cost of goods available for sale, assuming CBC uses the gross method to record purchase discounts? 17 Cinnamon Buns Co. (CBC) started 2021 with $57,000 of merchandise on hand. During 2021, $290,000 in merchandise was purchased on account with credit terms of 2/10, n/30. All discounts were taken. Purchases were all made fo.b. shipping point. CBC paid freight charges of $14,000. Merchandise with an invoice amount of $6,000 was returned for credit. Cost of goods sold for the year was $326,000. CBC uses a perpetual inventory system. 6.5 points Assume instead that (a) freight costs were paid by the vendor, (b) no discounts were taken, and (c) the merchandise on hand at the beginning of 2021 was determined by a physical count that failed to realize that $15,000 of merchandise was being held on consignment for Frosting R Us Inc. What is cost of goods available for sale, assuming CBC uses the gross method to record purchase discounts