16) Company A uses the average cost retail method to estimate inventories. Date for 2022 include: beginning inventory at cost and retail were $155,000 and $300,000, net purchase at cost and retail were $350,000 and $830,000, and sales during the year totaled $800,000. The estimated inventory at December 31, 2022, would be approximately:

a. $156,244

b. $148,938

c. $162,305

d. $131,257

17) On November 1, 2020, Company A issued 8-year, 6% bonds with a face value of $7,500,000 at 104 plus accrued interest. Interest dates for the bonds are January 1 and July 1. How much is the cash proceeds for Company A on November 1, 2020?

a. $7,950,000

b. $7,650,000

c. $7,800,000

d. $8,100,00