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Help 29.) Karen started a wholesale store this year selling bulk coffee. In February of this year Karen purchased an initial five large bins of
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29.) Karen started a wholesale store this year selling bulk coffee. In February of this year Karen purchased an initial five large bins of coffee for a total cost of $8,000. In June she purchased three more coffee bins for a total cost of $6,000. Then, in December she bought two more coffee bins for a total cost of $4,000. Karen sold six coffee bins by year-end. What is Karen's ending inventory under the FIFO cost-flow method? 30.) Douglas owns a photography store in Ft. Lauderdale. This year he paid $700 to register for a four-day course in photography in Denver, CO. Douglas paid $900 in airfare and $1,800 for nine nights' lodging. After the course, he spent the five days sightseeing. During the trip, Douglas also paid $140 a day for meals, and $80 a day for a rental car. What amount of these travel expenditures may Douglas deduct as business expensesStep by Step Solution
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