34. Zoe Company has provided the following values for its 400 units of inventory at the end of 2014 Item Historical cost Replacement cost Net realizable value Normal profit margin Per Unit $55.00 $35.00 $56.00 $15.80 Using lower-of-cost-or net realizable value, the per-unit reported value for Zo be: a. $35.00 b. 55.00 c. $56.00 d. $50.80 e. $55.80 The Jamison Company's inventory was destroyed on July 4, 2013, when its warehouse caught on fire early in the morning. Inventory was totally destroyed. The accounting records, which were located offsite, contained the following information: 35 Sales (1/1/13 through 7/3/13) Purchases (1/1/13 through 7/3/13) Inventory (1/1/13) Gross profit ratio 180,000 45,000 25% of cost Using the gross profit method, what is the estimated cost of the inventory that was destroyed by the fire? a. $17,500 b. $25,000 c. $30,000 d- $37,500 e. $62,500 36. At December 31, 2014, the following information was available from Gold Creek's records CostRetail 294,000 406,000 Inventory, 1/1/14 Purchases ,666,0002 2,310,000 Sales for the year totaled $2,400,000. Additional markups totaled $84,000, and markdowns amounted to $20,000. Under the conventional retail method, Gold Creek's inventory at December 31, 2014 was: a. $588,000 b. $294,000 c. $280,000 d $274,000 e $266,000