Farley Bains, an auditor with Nolls CPAs, is performing a review of Sandhill Company's Inventory account. Sandhill did not have a good year, and top management is under pressure to boost reported income. According to its records, the inventory balance at year-end was $735,590. However, the following information was not considered when determining that amount. (a1) Prepare a schedule to determine the correct inventory amount. (Show amounts that reduce irventory with a negative sign eg. -45 or parentheses e.g. (45).) Ending inventory-as reported 1. Included in the company's count were goods with a cost of $237,290 that the company is holding on consignment. The goods belong to Nader Corporation. 2. The physical count did not include goods purchased by Sandhill with a cost of $42,400 that were shipped FOB shipping point on December 28 and did not arrive at Sandhill's warehouse until January 3. 3. Included in the Inventory account was $17,040 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. 4. The company received an order on December 29 that was boxed and was sitting on the loading dock awaiting pick-up on December 31 . The shipper picked up the goods on January 1 and delivered them on January 6 . The shipping terms were FOB shipping point. The goods had a selling price of $39,010 and a cost of $29,090. The goods were not included in the count because they were sitting on the dock. 5. Included in the count was $54,800 of goods that were parts for a machine that the company no longer made. Given the high-tech nature of Sandhill's Ending inventory-as reported 1. Included in the company's count were goods with a cost of $237,290 that the company is holding on consignment. The goods belong to Nader Corporation. 2. The physical count did not include goods purchased by Sandhill with a cost of $42,400 that were shipped FOB shipping point on December 28 and did not ar rive at Sandhill's warehouse until January 3. 3. Included in the Inventory account was $17,040 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. 4. The company received an order on December 29 that was boxed and was sitting on the loading dock awaiting pick-up on December 31 . The shipper picked up the goods on January 1 and delivered them on January 6 . The shipping terms were FOB shipping point. The goods had a selling price of $39,010 and a cost of $29,090. The goods were not included in the count because they were sitting on the dock. 5. Included in the count was $54,800 of goods that were parts for a machine that the company no longer made. Given the high-tech nature of Sandhill's products, it was unlikely that these obsolete parts had any other use. However, management would prefer to keep them on the books at cost, "since that is what we paid for them, after all." Correct inventory REl sells snowboards. Assume the following information relates to REl's purchases of snowboards during September. During the same month, 104 snowboards were sold. REI uses a periodic inventory system. Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) Compute the cost of goods sold for the month using the FIFO. LIFO, and average-cost methods. (Round average cost per unit to 3 decimal places, eg. 125.153 and final answers to 0 decimal places, eg. 125.) Blossom Inc uses a periodic inventory system. Its records show the following for the month of May, in which 78 units were sold. Calculate the weighted-average unit cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted-average unit cost $ eTextbook and Media Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods, (Round answers to 0 decimal places, e.g. 125 \). Calculate the weighted-average unit cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted-average unit cost eTextbook and Media Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, eg. 125.) Best Buy uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31 . What amount should be reported on Best Buy's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Farley Bains, an auditor with Nolls CPAs, is performing a review of Sandhill Company's Inventory account. Sandhill did not have a good year, and top management is under pressure to boost reported income. According to its records, the inventory balance at year-end was $735,590. However, the following information was not considered when determining that amount. (a1) Prepare a schedule to determine the correct inventory amount. (Show amounts that reduce irventory with a negative sign eg. -45 or parentheses e.g. (45).) Ending inventory-as reported 1. Included in the company's count were goods with a cost of $237,290 that the company is holding on consignment. The goods belong to Nader Corporation. 2. The physical count did not include goods purchased by Sandhill with a cost of $42,400 that were shipped FOB shipping point on December 28 and did not arrive at Sandhill's warehouse until January 3. 3. Included in the Inventory account was $17,040 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. 4. The company received an order on December 29 that was boxed and was sitting on the loading dock awaiting pick-up on December 31 . The shipper picked up the goods on January 1 and delivered them on January 6 . The shipping terms were FOB shipping point. The goods had a selling price of $39,010 and a cost of $29,090. The goods were not included in the count because they were sitting on the dock. 5. Included in the count was $54,800 of goods that were parts for a machine that the company no longer made. Given the high-tech nature of Sandhill's Ending inventory-as reported 1. Included in the company's count were goods with a cost of $237,290 that the company is holding on consignment. The goods belong to Nader Corporation. 2. The physical count did not include goods purchased by Sandhill with a cost of $42,400 that were shipped FOB shipping point on December 28 and did not ar rive at Sandhill's warehouse until January 3. 3. Included in the Inventory account was $17,040 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. 4. The company received an order on December 29 that was boxed and was sitting on the loading dock awaiting pick-up on December 31 . The shipper picked up the goods on January 1 and delivered them on January 6 . The shipping terms were FOB shipping point. The goods had a selling price of $39,010 and a cost of $29,090. The goods were not included in the count because they were sitting on the dock. 5. Included in the count was $54,800 of goods that were parts for a machine that the company no longer made. Given the high-tech nature of Sandhill's products, it was unlikely that these obsolete parts had any other use. However, management would prefer to keep them on the books at cost, "since that is what we paid for them, after all." Correct inventory REl sells snowboards. Assume the following information relates to REl's purchases of snowboards during September. During the same month, 104 snowboards were sold. REI uses a periodic inventory system. Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) Compute the cost of goods sold for the month using the FIFO. LIFO, and average-cost methods. (Round average cost per unit to 3 decimal places, eg. 125.153 and final answers to 0 decimal places, eg. 125.) Blossom Inc uses a periodic inventory system. Its records show the following for the month of May, in which 78 units were sold. Calculate the weighted-average unit cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted-average unit cost $ eTextbook and Media Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods, (Round answers to 0 decimal places, e.g. 125 \). Calculate the weighted-average unit cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted-average unit cost eTextbook and Media Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, eg. 125.) Best Buy uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31 . What amount should be reported on Best Buy's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied