1. Font Inc. had beginning inventory balance of $5,000. During the year, it purchased inventory of $81,000. The company sold inventory for $100,000 and had a markup of 25 percent on sales price. What is the ending inventory balance of Font?
2. Company had a beginning inventory of $390. During the year, the company purchased inventory of $2,900 and made sales for $3,500. Selling cost amounted to $250. The ending inventory balance was $450. What is the cost of goods sold of Marcus Company?
3. Allison Corporation sold inventory having original cost of $28 for $50. This was recorded with a debit to cost of goods sold and credit to inventory for $50. Allison uses a perpetual inventory system. Which of the following is true of this transaction?
4. Opera Corporation began the year with $8,000 in inventory. During the year, Opera purchased $23,000 in inventory. An end of the year count showed $6,000 in inventory. What is Opera cost of goods sold for the year?
   1. $8,000
   2. $21,000
   3. $23,000
   4. $15,000
   5. $25,000