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Calculate the following, and place the calculated solution on the appropriate line. In all cases, assume the companies that are the subject of the question
Calculate the following, and place the calculated solution on the appropriate line. In all cases, assume the companies that are the subject of the question are US corporations using US GAAP. a. Berful sells a product. It had one item in beginning inventory that cost $90,000, and purchased two more-one for $100,000, and later, one for $110,000. If two of the three items were sold this year, determine the cost of ending inventory under the following cost flow assumptions. b. Berful buys a machine for $75,000 on the first day of the year. The machine is expected to have a life of 5 years, and to have a salvage value of $15,000. Calculate the depreciation expense for year two of its life using the following methods. Straight-line method Double-declining balance Sum-of-the-years digits c. Calculate the correct balance of cash resulting from the following data, and place the correct balance on the line below. Ending cash balance
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