87 14 w l /y.Jer, Y... p 7:21 Os CH 6 HOMEW... Q1: CORONA Company uses the periodic inventory method and had the following inventory information available: Unit costa com 1/1 Beginning Inventory 120 Purchase 2.400 7/25 1,400 Purchase 10/20 Purchase 1.000 A physical count of inventory on December 31 revealed that there were 400 units on hand. REQUIRED Calculate ending inventory and cost of goods sold using 1. FIFO 2. LFO 3. AVERAGE METHOD Q2:4 BAMA company is counting its inventory. According to records, the inventory balance at yearend was $740.000. However, the following information was not considered when determining that amount 1. Included in the company's count were goods with a cost of $250.000 that the company is holding on consignment. The goods belong to Kroeger Corporation 2 The physical count did not include poods purchased by BAMA with a cost of $40,000 that were shipped FOB destinabon on December 28 and did not arrive at BAMA warehouse until January 3. 3. Included in the inventory account was $14,000 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. 4. On December 29, BAMA shipped goods with a selling price of $80,000 and a cost of $80 000 to Macchia Sales Corporation FOB shipping point. The goods arrived on January 3. Macchia had only ordered goods with a selling price of $10,000 and a cost of $8.000. However, a sales manager at BAMA had authorized the shipment and said that if Machia wanted to ship the goods back next week, it could Instructions: determine the correct inventory amount Q.3:3 Compute the lower-of-cost-or-market valuation for Gantner Company's total inventory based on the following Inventory Categories CostDataM arket Data $18.000 $16.900 B 13.900 14,600 21,000 20.500