32. Skylars Aircraft Dealership, a company that buys and resells used aircraft, purchased a Cessna Citation jet for $750,000 on December 15, 2020. An independent appraiser opined that the aircrafts fair market value was $900,000 as of December 31, 2020. The company sold the aircraft to Buechler Corporation for $950,000 on April 1, 2021. At what amount will this aircraft be included in Skylars Aircraft Dealerships inventory on its December 31, 2020 accrual-basis balance sheet? A. $950,000 B. $900,000 C. $750,000 D. $200,000

35. Javiers Bicycle Shop reported merchandise inventory of $100,000 on its December 31, 2020 balance sheet. The company purchased $500,000 of inventory from suppliers during 2021. What amount of merchandise inventory will the company report on its December 31, 2021 balance sheet if the company reported cost of goods sold equal to $200,000 on its accrual-basis income statement for the year ended December 31, 2021? A. $600,000 B. $500,000 C. $400,000 D. $100,000