3:55 Accounting 2 Q1. Blackburn Appliance Center accumulates the following cost and net realizable value data at December 31. Inventory Cost Net Realizable Categories Data Value Data Cameras 12,000 12,100 Camcorders 9,420 9,200 Blu-ray players 14,000 12,800 Compute the lower-of-cost-or-net realizable value valuation for the company's total inventory Q2. Zammit Company reports net income of 90,000 in 2017 however ending inventory was understated 5,000. What is the correct net income for 2017? What effect, if any, will this error have on total assets as reported in the statement of financial position at December 31, 2017? Q3. The information below relates to the cash account of Amman company Cash balance per the bank statement 22,000 on September 30, 2018 on this date the balance of cash per books 24,000 1. Deposits in transit at September 30 were 7,000. 2. Outstanding checks 8,000