A). ABCorp shows the following sales related figures for its fiscal/calendar year 2020:

Gross Revenues -$1800

Credit Sales (Payable in 2021) -400

Costs of Items Sold (All units cost the same amount)- 900

Returns (all returns cleaned at a cost of $100, and restocked for sale in 2021) -200

Defective Units Returned & Destroyed; New Items Sent to Customers at no Charge (at Cost) -100

Inventory January 1, 2020 -1600

Inventory Acquired During 2020 -600

Inventory Acquired on Account, Payable in 2021- 200

Spoliage During 2020- 400

Assuming no other information is available or relevant, what is the DOLLAR VALUE of ABCorpsl:

1. Inventory on December 31, 2020? ________________________

2. Gross Margin for FY 2020? ___________________________

3. Net Cash Flows from Operations for FY 2020? ____________________

B). Amco, Inc. manufactures stereo turntables in the United States. It reports its financial information on a calendar year basis. For its FY 2015, it shows the following:

Property Plant and Equipment (PP&E) January 1 -0-

Purchases of PP&E on July 1, 2015 $1,100,000

Purchases of Land During FY 2015 1,100,000

Useful Life of PP&E and Land 10 Years

Salvage Value of PP&E 100,000

Salvage Value of Land 100,000

Depreciation Method Used Straight Line

Assuming no other information is available or relevant, what is the DOLLAR VALUE of Amcos

1. Depreciation expense for FY 2020? ___________________________
2. Accumulated Depreciation as of 12/31/2020? ______________________
3. Depreciation Expense for FY 2020, assuming Amco uses the double declining balance method of depreciation? _____________________________
4. Accumulated Depreciation as of 12/31/2020, assuming Amco uses the double declining balance method of depreciation? _____________________________