#18The Bridal Gift Shop, Inc. has 14 units in ending merchandise inventory on December 31. The units were purchased in November for $155 each.

The price lists from suppliers indicate the current replacement cost of the item to be $161 each. What would be the amount reported as

Merchandise Inventory on the balance sheet?

O A. $2.170

O B. $4.424

O C. $2,254

O D. $316

#19 A company that uses the perpetual inventory system purchases inventory for $63,000 on account, with terms of 3/10, n/30. Which of the following

is the journal entry to record the payment made within 10 days?

O A. a debit to Accounts Payable for $63,000, a credit to Merchandise Inventory for $1,890, and a credit to Cash for $61,110

O B. a debit to Accounts Payable for $63,000, a credit to Cash for $1,890, and a credit to Merchandise Inventory for $61,110

O C. a debit to Accounts Payable for $61,110, a debit to Merchandise Inventory for $1,890, and a credit to Cash for $63,000

O D.a debit to Merchandise Inventory for $1,890, a debit to Accounts Payable for $63,000, and a credit to Cash for $64,890

#20Smart Phones, Inc. had the following balances and transactions during 2019.

Beginning Inventory

June 10

December 30

December 31

10 units at $74

Purchased 20 units at $77

Sold 15 units

Replacement cost $79

The company maintains its records of inventory on a perpetual basis using the last - in, first - out inventory costing method. Calculate the amount

of ending Merchandise Inventory at December 31, 2019 using the lower - of -cost - or- market rule. (Round any intermediate calculations two

decimal places, and your final answer to the nearest dollar.)

0 A. $740

O B. $1,155

0 C. $1,125

O D. $1,185