During June, the following changes in inventory took place: Perpetual inventories are maintained in units only. Instructions What is the cost of the ending inventory under the following methods? (Show calculations.) (a) FIFO. (b) Average Cost. A Company began operations in 2020 and determined its ending inventory at cost and at a LCNRV at December 31,2020, and December 31,2021. This information is presented below. SEU ELITE ACCT201 SEU ELITE Instructions (a) Prepare the journal entries required at December 31, 2020, and December 31, 2021, assuming that the inventory is recorded at LCNRV, using a perpetual inventory system and the cost-of-goods-sold method. (b) Prepare the journal entries required at December 31,2020, and December 31, 2021, assuming that the inventory is recorded at cost, using a perpetual system and the loss method. (c) Which of the two methods above provides the higher net income in each year? On March 1, a Company began construction of a small building. The following expenditures were incurred for construction: The building was completed and occupied on July 1. To help pay for construction SR50,000 was borrowed on March 1 on a 12%, three-year note payable. The only other debt outstanding during the year was a SR 500,000,10% note issued two years ago. Instructions (a) Calculate the weighted-average accumulated expenditures SEU ELITE ACCT201 SEU ELITE $96,000 (b) Calculate avoidable interest