1. Aster Inc, a chain of candy stores, purchases its candy in bulk. In a recent shipment, Aster Inc. received 244,320 candies for $22,100. The candy is broken into groups. One group of 72,930 pieces that will sell for $0.15 each and the rest that will sell for $0.41 each. Using this information, how much profit will Aster Inc. record for each candy they sell from the first group? Please round you calculations to the nearest penny!

2.When using the Retail Inventory Method (RIM), what values would you include in your cost to retail ratio for the conventional approach?

3.What effect will overstating 2019s ending inventory by 3751000 have on 2020s ending retained earnings?