Equipment with a cost of $320,000 has an estimated salvage value of $20,000 and 1- an estimated life of 4 years or 15,000 hours. It is to be depreciated using the units- of-activity method. What is the amount of depreciation for the first full year, during which the equipment was used 3,000 hours? 0 1) $60,000. 0 2) $66,000 ( 3) $80,000 04) $90,400

2- Equipment with a cost of $320,000 has an estimated salvage value of $20,000 and an estimated life of 4 years or 15,000 hours. It is to be depreciated using the units- of-activity method. What is the amount of depreciation for the first full year, during which the equipment was used 3,000 hours? 0 1) $60,000. 0 2) $66,000 ( 3) $80,000 04) $90,400

3- Jett has the following inventory data: July 1 Beginning inventory 20 units at $120 July 5 Purchases 120 units at $112 July 14 Sale 80 units July 21 Purchases 60 units at $115 July 30 Sale 56 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a LIFO basis. () 1) $7,328 0 2) $15,412 3) $7,348 0 4) $15,392.

Please answer all the questions, and TYPE the answers. NO handwriting.