4 During 2021, a company sells 280 units of inventory for $88 each. The company has the following inventory purchase transactions for 2021: Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 64 166 185 415 Unit Cost $63 64 66 Total Cost $ 4,032 10,624 12,210 $ 26,866 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost of goods sold Inventory records for Dunbar Incorporated revealed the following: 6 Date Transaction Apr. 1 Beginning inventory Apr. 20 Purchase Number of Units 460 430 Unit Cost $2.40 2.74 Dunbar sold 630 units of inventory during the month. Ending inventory assuming FIFO your answer to the nearest dollar amount.) Multiple Choice $712 $624 $1,260. $1,104 7 Carpenter Inc. estimates warranty expense at 2% of sales. Sales during the year were $4 million and warranty expenditures were $44,000. What was the balance in the Warranty Liability account at the end of the year? Multiple Choice $80,000 $480,000 $36.000 $44,000