accouting question

The following data refer to Jacket Company's ending Inventory: Item code Quantity Unit Cost Unit Market Small 100 $114 $116 Medium 420 76 88 Large 600 84 88 Extra-Large 220 134 128 How much is the inventory if the lower of cost or market rule is applied to each item of inventory? Select one: O a. $132,720 O b. None of the above/below O c. $121,880 O d. $126,320Kate Company purchased a tractor at a cost of $180,000. The tractor has an estimated salvage value of $20,000 and an estimated life of 8 years, or 12,000 hours of operation. The tractor was purchased on January 1, 2016 and was used 2,400 hours in 2016 and 2,200 hours in 2017. What method of depreciation will produce the maximum depreciation expense in 2016? Select one: Q a. All methods produce the same expense in 2016 0 b. Straight-line Q o. Units-of-production 0 d. Double-declining-balance Assuming rising prices, which method will give the highest dollar value for cost of goods sold on the inoome statement? Select one: Q a. FIFO b. Average Cost o. All of these give equal values for cost of goods sold 000 d. LIFO Which best describes par value for stock? Select one: Q a. The value at which stock shares were issued C) b. The amount expected to be paid out as a dividend on a share of stock 0 c. The current market value of the stock 0 d. An arbitrary amount set by the company for each share of stock Goodwill can be recorded as an asset when: Select one: Q a. An offer is received to purchase the business at a price in excess of the value of the assets C) b. A business can determine that it has created customer goodwill and name recognition 0 c. A business has above normal protability compared to other businesses in its industry 0 d. A business is purchased and payment is made in excess if the fair value of the identiable net assets