3.

Alison's dress shop buys dresses from McGuire Manufacturing. Alison purchased dresses from McGuire on July 17 and received an invoice with a list price amount of $6,000 and payment terms of 3/10, n/30. Alison uses the net method to record purchases. Alison should record the purchase at:

$2,910.

$6,000.

$5,820.

$6,180.

4.

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):

	42 units at $105
	71 units at $72
	173 units at $63

Sales for the year totaled 275 units, leaving 11 units on hand at the end of the year. Ending inventory using the average cost method is (Do not round unit cost calculation. Round your final answer to the nearest whole dollar amount):

$743.

$785.

$1,155.

$693.

5.

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):

43 units at $102

71 units at $79

173 units at $62

Sales for the year totaled 266 units, leaving 21 units on hand at the end of the year. Ending inventory using the FIFO method is:

$1,516.

$1,352.

$1,302.

$2,142.

6.

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):

40 units at $91

70 units at $76

171 units at $51

Sales for the year totaled 266 units, leaving 15 units on hand at the end of the year. Ending inventory using the LIFO method is:

$1,365.

$815.

$765.

$944.