Hello - i need assistance with the attached 8 problem

Thank you

Exercise 8-2 In your audit of Adams Company, you find that a physical inventory on December 31, 2017, showed merchandise with a cost of $433,700 was on hand at that date. You also discover the following items were all excluded from the $433,700. 1 . 2 . 3 . 4 . 5 . Merchandise of $59,600 which is held by Adams on consignment. The consignor is the Max Suzuki Company. Merchandise costing $37,860 which was shipped by Adams f.o.b. destination to a customer on December 31, 2017. The customer was expected to receive the merchandise on January 6, 2018. Merchandise costing $49,940 which was shipped by Adams f.o.b. shipping point to a customer on December 29, 2017. The customer was scheduled to receive the merchandise on January 2, 2018. Merchandise costing $75,660 shipped by a vendor f.o.b. destination on December 30, 2017, and received by Adams on January 4, 2018. Merchandise costing $47,910 shipped by a vendor f.o.b. shipping point on December 31, 2017, and received by Adams on January 5, 2018. Based on the above information, calculate the amount that should appear on Adams's balance sheet at December 31, 2017, for inventory. $ Inventory as on December 31, 2017 Exercise 8-9 (Part Level Submission) Kingbird Company sells one product. Presented below is information for January for Kingbird Company. Jan. 1 4 Inventory Sale 123 units at $5 each 98 units at $8 each 11 Purchase 136 units at $6 each 13 Sale 103 units at $9 each 20 Purchase 169 units at $7 each 27 Sale 108 units at $11 each Kingbird uses the FIFO cost flow assumption. All purchases and sales are on account. (a) Assume Kingbird uses a periodic system. Prepare all necessary journal entries, including the endof-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 119 units. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31 Exercise 9-2 Sweet Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I $150 $138 $119 $113 $138 $113 Cost 94 100 100 100 63 45 Cost to complete 38 38 31 44 38 38 Selling costs 13 23 13 25 13 25 Estimated selling price Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2017, for each of the inventory items above. $ Item D $ Item E $ Item F $ Item G Item H $ $ Item I Exercise 9-7 Blue Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Item No. Quantit y Normal Profit 1320 1,700 $4.00 $3.75 $5.63 $0.44 $1.56 1333 1,400 3.38 2.88 4.38 0.63 0.63 1426 1,300 5.63 4.63 6.25 0.50 1.25 1437 1,500 4.50 3.88 4.00 0.31 1.13 1510 1,200 2.81 2.50 4.06 1.00 0.75 1522 1,000 3.75 3.38 4.75 0.50 0.63 1573 3,500 2.25 2.00 3.13 0.94 0.63 1626 1,500 5.88 6.50 7.50 0.63 1.25 From the information above, determine the amount of Blue Company inventory. $ The amount of Blue Company's inventory Exercise 9-17 You are called by Tim Duncan of Headland Co. on July 16 and asked to prepare a claim for insurance as a result of a theft that took place the night before. You suggest that an inventory be taken immediately. The following data are available. Inventory, July 1 Purchasesgoods placed in stock July 1-15 Sales revenuegoods delivered to customers (gross) Sales returnsgoods returned to stock $ 39,200 92,200 127,500 4,100 Your client reports that the goods on hand on July 16 cost $33,100, but you determine that this figure includes goods of $5,900 received on a consignment basis. Your past records show that sales are made at approximately 30% over cost. Duncan's insurance covers only goods owned. Compute the claim against the insurance company. (Round ratios for computational purposes to 2 decimal places, e.g. 78.73% and final answer to 0 decimal places, e.g. 28,987.) Claim against the insurance company $ Exercise 9-18 Tamarisk Lumber Company handles three principal lines of merchandise with these varying rates of gross profit on cost. Lumber Millwork Hardware and fittings 25% 30% 40% On August 18, a fire destroyed the office, lumber shed, and a considerable portion of the lumber stacked in the yard. To file a report of loss for insurance purposes, the company must know what the inventories were immediately preceding the fire. No detail or perpetual inventory records of any kind were maintained. The only pertinent information you are able to obtain are the following facts from the general ledger, which was kept in a fireproof vault and thus escaped destruction. Lumber Inventory, Jan. 1, 2017 Purchases to Aug. 18, 2017 Sales to Aug. 18, 2017 $250,600 1,484,700 2,050,000 Millwork $89,200 381,900 530,400 Hardware $45,600 160,000 197,400 Submit your estimate of the inventory amounts immediately preceding the fire. (Round ratios for computational purposes to 5 decimal places, e.g. 78.74265% and final answers to 0 decimal places, e.g. 28,987.) Lumber Millwork $ Hardware $ $ Inventory Exercise 9-22 The records of Shamrock's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $92,500 1,800 10,700 1,400 9,700 2,700 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $45,300 88,900 1,800 2,800 31,952 48,400 2,200 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) $ Ending inventory using conventional retail inventory method Exercise 9-20 Presented below is information related to Coronado Company. Beginning inventory Purchases (net) Cost Retail $ 57,390 123,320 $102,500 207,100 Net markups 10,382 Net markdowns 28,742 Sales revenue 178,230 Compute the ending inventory at retail. $ Ending inventory LINK TO TEXT Compute a cost-to-retail percentage under the following conditions. (Round ratios to 2 decimal places, e.g. 78.74%) Cost-to-retail percentage (1) Excluding both markups and markdowns. % (2) Excluding markups but including markdowns. % (3) Excluding markdowns but including markups. % (4) Including both markdowns and markups. % LINK TO TEXT Which of the methods in (b) above does the following? (1) Provides the most conservative estimate of ending inventory. (2) Provides an approximation of lower-ofcost-or-market. (3) Is used in the conventional retail method. LINK TO TEXT Compute ending inventory at lower-of-cost-or-market. (Round ratio to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.) $ Ending inventory LINK TO TEXT Compute cost of goods sold based on (d). (Round answer to 0 decimal places, e.g. 6,225.) $ Cost of goods sold LINK TO TEXT Compute gross margin based on (d). (Round answer to 0 decimal places, e.g. 6,225.) $ Gross margin