1.Malcolm Machines was charged $250 by the manufacturer for a miniature aircraft clone and the purchase was made on credit. Malcom spent $19 in cash to transport the item from the factory to one of its retail stores and another $16 to have the pieces assembled so that the clone could be displayed in the salesroom for customers to examine. Based on this information, what was the cost of the completed clone aircraft?

2.A Corporation began the year with $10,000 in inventory. During the year, they purchased $42,000 in inventory. The end of the year count showed $11,000 in inventory. The cost of goods sold for the year is $41,000? true or false?