Can someone help with the answers to these questions?

1. On February 13, North Carolina Furniture purchases three sofas from a manufacturer for $300 each. The terms of the sale are 2/10 n/45. North Carolina Furniture pays the invoice on February 21. How much did they pay?

a. $300

b. $900

c. $882

d. $810

2. Crayson Inc. started the year with $490,000 in beginning inventory. During the year, Crayson purchased an additional $1,060,000 in inventory. At the end of the year, Crayson employees performed a physical count and determined that ending inventory amounted to $450,000. What was Crayson's cost of goods sold for the year?

a. $1,100,000

b. $1,020,000

c. $120,000

d. $1,060,000

3. Raceway Corporation manufactures miniature cars and racetracks for collectors and enthusiasts. Raceway placed an order for supplies from Delta Inc. on December 1. The sales staff at Delta informed Raceway that the supplies would not be available to ship out until December 22 and Raceway accepted this arrangement. The supplies actually shipped, FOB shipping point, on December 26 and arrived at Raceway's receiving dock on January 2. On which date should Raceway include the supplies in its inventory?

a. December 1

b. December 22

c. December 26

d. January 2

4. Which of the following concerning the "lower-of-cost-or-market" rule is not true?

a. If the replacement cost of an inventory item falls below its historical cost, the value of the item should be written down.

b. If the market value of an item exceeds its historical cost, it should be written up and a gain should be recorded.

c. It is possible for an item's net realizable value to fall below its historical cost.

d. Lower-of-cost-or-market is an example of the conservatism principle.

5. Romulus Company sells maps. At the end of the year, Romulus's inventory account indicated that it had 2,900 maps of Italy on hand that had originally cost $30 each. An inventory count showed that only 2,875 were actually in ending inventory. What journal entry should Romulus make if management believes the discrepancy is due to errors in the accounting process?

a. Figure 8.12

b. Figure 8.13

c. Figure 8.14

d. Figure 8.15

6. Real South Products has $400,000 worth of inventory on hand on January 1. Between January and March 13, Real South purchased an additional $190,000 in inventory and sales of $530,000 had been made. On March 13, Real South's warehouse flooded and all but $15,000 worth of inventory was ruined. Real South has an average gross profit percentage of 25 percent. What would be the approximate value of the inventory destroyed in the flood?

a. $240,000

b. $275,000

c. $207,500

d. $177,500