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QUESTION #1 -

Blossom Company had ending inventory at end-of-year prices of $128,000 at December 31, 2024; $153,472 at December 31, 2025; and $172,230 at December 31, 2026. The year-end price indexes were 100 at 12/31/24, 110 at 12/31/25, and 120 at 12/31/26. Compute the ending inventory for Blossom Company for 2024 through 2026 using the dollar-value LIFO method. 2024 2025 2026 Ending inventory $ $Fishworld Enterprises reported cost of goods sold for 2025 of $1,397,500 and retained earnings of $5,157,300 at December 31, 2025. Fishworld later discovered that its ending inventories at December 31, 2024 and 2025, were overstated by $105,370 and $31,500, respectively. Determine the corrected amounts for 2025 cost of goods sold and December 31, 2025, retained earnings. Corrected cost of goods sold 35 Corrected 12/31/25 retained earnings $ Disney Co. records purchase discounts lost and uses perpetual inventories. Prepare journal entries in general journal form for the following: (a) Purchased merchandise costing $3,200 with terms 3/10, n/30. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit