1.The Claremont Companys ending inventory is composed of 50 units that had cost $40 each and 100 units that had cost $35 each. If the company can replace all 150 units at a price of $36 each, what value should be assigned to the companys ending inventory assuming that it applies LCM?

2.The McQuenny Companys ending inventory is composed of 100 units that had an acquisition cost of $49 per unit and 50 units that had an acquisition cost of $54 per unit. If the company can replace all 150 units at a replacement cost of $51 per unit, what value should be assigned to the companys ending inventory assuming that it applies the LCM method?

3.

Inventory Turnover and Days Sales in Inventory W. Glass & Company reported the following information in its recent annual report:

	2015	2016
Cost of goods sold	$5,100,000	$5,700,000
Beginning inventory	900,000	860,000
Ending inventory	860,000	640,000

Calculate the companys inventory turnover and days sales in inventory for both years. Round answers to two decimal places. Use rounded answers for subsequent calculations.

	2015	2016
Inventory turnover
Days' sales in inventory