1.Minnie's Haberdashery has a beginning merchandise inventory of $25,000. During the period, purchases were $120,000; purchase returns, $5,000; and freight-in $17,000. A physical count of inventory at the end of the period revealed that $30,000 was still on hand. The cost of goods available for sale was:

		$127,000
		$140,000
		$157,000
		$162,000

2.

Inventory records for Dogz Coffee indicate the following for coffee bags: On December 1st, the beginning inventory was 500 bags at a cost of $2.50 per bag. On December 15th, there were purchases of 600 bags at a cost of $2.60 per bag. Dogz sold 700 bags during the month of December. Using the Weighted Average inventory valuation method, what was the value of the ending inventory? Round to the nearest whole number.

		$1,022
		$1,150
		$1,000
		$9,88

3.

If the FICA tax rate on the first $100,000 in salaries and wages is at 7.65%, and the federal income tax is at 25% on all salaries and wages, what would Samuel's deductions for the year if he earned $150,000?

		$48,975.00
		$45,150.00
		$40,575.00
		$42,250.00