16) Carlton company purchases $5000 of inventory with shipping terms, FOB portland. Carlton is based in Seattle and the supplier is based in Portland. The shipping costs are $420. What is the cost of Carltons inventory

a) 5420$

b) 5000$

c) either $5000 or $5420 is an acceptable amount to assign to inventory cost under GAAP

d) there is not enough information to calculate inventory cost

19) The adjusted balance for supplies was $333, the unadjusted balance for supplies was $609. The amount of supplies expense would be recorded as a

a) 276 debit

b) 609$ debit

c) 333$ debit

d) 276$ credit

21) A company has sales revenues of $128,000, cost of good sold of $67,000, and operating expense of $36,000, and other expenses of $1000. The company is gross profit i A company has sales revenues of $128,000, cost of goods sold of $67,000, and operating expense of $36,000, and other expenses of $1000. The companies gross profit is

a) 61,000$

b) 60,000$

c) 24,000$

d) 25,000$

22) archer company had an inventory balance of $3100 on January 1. During the accounting period They made purchases of $11,500. The ending inventory balance was $2250. if archer co. uses the periodic inventory system, what is the cost of goods available for sale ?

a) 3100$

b) 14,600$

c) 12,350$

d) 11,500$