4 multiple choice questions. (As per chegg study policy.)

Data related to the inventories of Costco Medical Supply are presented below: Selling price Cost Costs to sell Surgical Equipment $ 269 151 20 Surgical Supplies $137 101 6 Rehab Equipment $321 288 29 Rehab Supplies $152 147 12 In applying the lower of cost or net realizable value rule, the inventory of rehab equipment would be valued at: Multiple Choice $274 $288. $292 $221. A company has the following information for the current year's operations: Cost $ 40,000 400,000 Beginning inventory Purchases Net markups Net markdowns Net sales Retail $ 60,000 660,000 50,000 10,000 580,000 Management calculates the cost-to-retail percentage as 57.9%, equal to cost of $440,000 ($40,000 + $400,000) divided by retail of $760,000 ($60,000 $660,000 + $50,000 - $10,000). Which application of the retail inventory method is the company using? Multiple Choice Average cost LIFO Conventional. Dollar-value LIFO Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $410,000. Shipping costs totaled $14,000. Foundation work to house the centrifuge cost $7.200. An additional water line had to be run to the equipment at a cost of $2,700. Labor and testing costs totaled $5,600. Materials used up in testing cost $2,700. The capitalized cost is: Multiple Choice $424,000 $433,900 $442,200 $438.100 Northern purchased the entire business of Southern including all its assets and abilities for $2.280,000 on December 31 , 2021 Below is information related to the two companies at that date: Northern Southern $3,990,000 $3,040,000 1,995,000 1,140,000 Fair value of assets Fair value of liabilities Reported assets Reported liabilities Net Income for the year 2, 470,000 3,040,000 1,900,000 950,000 228,000 190,000 How much goodwill did Northern pay for acquiring Southern? Multiple Choice $380,000. $1,140,000 $760,000 O $570,000