Aiello, Inc. had inventory in fiscal 2016. Compute the company's ending inventory for fiscal 2016 assuming the company used a) FIFO and b) LIFO methods of accounting for inventory:

Beginning Inventory, January 1, 2016: 1,000 units @ $15.00

Purchase 700 units @ $18.00

Purchase 300 units @ $13.50

Purchase 500 units @ $15.75

Sold 1,185 units in fiscal 2016 at $35 per unit.

a) Ending Inventory under FIFO = b) Ending Inventory under LIFO =

Central Supply purchased a new printer for $40,000. The printer is expected to operate for five (5) years, after which it will be sold for salvage value (estimated to be $5,000).

How much is the first and second years depreciation expense if the company uses the double-decliningbalance method?

a)Year 1 Depreciation Expense =

b)Year 2 Depreciation Expense =