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.)

1. Jills Dress Shop had a beginning balance in its inventory account of $52,000. During the accounting period, Jills purchased $111,000 of inventory, returned $7,400 of inventory, and obtained $990 of purchases discounts. Jills incurred $1,480 of transportation-in cost and $840 of transportation-out cost. Salaries of sales personnel amounted to $43,000. Administrative expenses amounted to $47,600. Cost of goods sold amounted to $106,300.
2. Kens Bait Shop had a beginning balance in its inventory account of $12,800. During the accounting period, Kens purchased $56,100 of inventory, obtained $1,680 of purchases allowances, and received $600 of purchases discounts. Sales discounts amounted to $880. Kens incurred $1,380 of transportation-in cost and $500 of transportation-out cost. Selling and administrative cost amounted to $14,700. Cost of goods sold amounted to $38,700.

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.) a. Jill's Dress Shop had a beginning balance in its inventory account of $52,000. During the accounting period, Jill's purchased $111,000 of inventory, returned $7,400 of inventory, and obtained $990 of purchases discounts. Jill's incurred $1,480 of transportation in cost and $840 of transportation-out cost. Salaries of sales personnel amounted to $43,000. Administrative expenses amounted to $47,600. Cost of goods sold amounted to $106,300. b. Ken's Bait Shop had a beginning balance in its inventory account of $12,800. During the accounting period, Ken's purchased $56,100 of inventory, obtained $1,680 of purchases allowances, and received $600 of purchases discounts. Sales discounts amounted to $880. Ken's incurred $1,380 of transportation in cost and $500 of transportation-out cost. Selling and administrative cost amounted to $14,700. Cost of goods sold amounted to $38,700. Jill's Dress Shop Ken's Bait Shop Cost of goods available for sale Ending Inventory