6- Kingbird has the following inventory data:

Nov. 1		Inventory		34 units @ $6.80 each
8		Purchase		137 units @ $7.35 each
17		Purchase		68 units @ $7.20 each
25		Purchase		103 units @ $7.50 each

A physical count of merchandise inventory on November 30 reveals that there are 114 units on hand. Ending inventory under FIFO is

$1649.

$819.

$852.

$1681.

7- Marigolds has the following inventory data:

Nov. 1		Inventory		23 units @ $4.70 each
8		Purchase		94 units @ $5.05 each
17		Purchase		47 units @ $4.90 each
25		Purchase		70 units @ $5.10 each

A physical count of merchandise inventory on November 30 reveals that there are 78 units on hand. Cost of goods sold under LIFO is

$774.

$396.

$386.

$784.

8- Novak Corp. had the following inventory transactions occur during 2022:

				Units		Cost/unit
Feb. 1, 2022		Purchase		132		$55
Mar. 14, 2022		Purchase		227		$57
May 1, 2022		Purchase		161		$60

The company sold 373 units at $77 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $2196, what is the companys after-tax income using LIFO?

$3346.70

$5486.00

$3840.20

$4781.00

9- At May 1, 2022, Bramble Corp. had beginning inventory consisting of 290 units with a unit cost of $7. During May, the company purchased inventory as follows: 590 units at $7 880 units at $8 The company sold 1470 units during the month for $12 per unit. Bramble Corp. uses the average cost method. The value of Bramble Corp.'s inventory at May 31, 2022 is (Round average cost per unit to 2 decimal places, e.g. 12.52.)

$13200.

$2175.

$2030.

$2320.

10-The manager of Bramble is given a bonus based on net income before taxes. The net income after taxes is $56610 for FIFO and $48000 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO?

$17220

$2460

$8610

$12300