For each of the following cases determine the ending balance in the inventory account. (Hint: First, determine the total cost of inventory available for sale. Next, subtract the cost of the inventory sold to arrive at the ending balance.)

Required

1. Jills Dress Shop had a beginning balance in its inventory account of $46,000. During the accounting period, Jills purchased $93,000 of inventory, returned $6,200 of inventory, and obtained $870 of purchases discounts. Jills incurred $1,240 of transportation-in cost and $720 of transportation-out cost. Salaries of sales personnel amounted to $37,000. Administrative expenses amounted to $41,600. Cost of goods sold amounted to $94,300.
2. Kens Bait Shop had a beginning balance in its inventory account of $10,400. During the accounting period, Kens purchased $46,500 of inventory, obtained $1,440 of purchases allowances, and received $480 of purchases discounts. Sales discounts amounted to $760. Kens incurred $1,140 of transportation-in cost and $380 of transportation-out cost. Selling and administrative cost amounted to $13,500. Cost of goods sold amounted to $36,300.