= Homework: Homework Chapter 6 Question 3, Starter 6-15 (similar to) HW Score: 7.5%, 3 of 40 points Points: 0 of 3 Save A lire wiped out Paine Paper Company's Inventory The ice company wil accept an estimate using the retai method. Last year's balance sheet stated that the ending inventory was $12.000 and it would usually sell for $38,000 M Pichar knows that the cost of purchases was $130 000 and the retail selling pnces for the paper towed 5278.000 Credit card receipts indicate that there was 3253000 of since the beginning of the year Calculate the cost of the lost ending inventory for the insurance company (Round the retail ratio to two decimal places and the final answer to the nearest dollar) The lost ending inventory 15 3 Homework: Homework Chapter 6 Question 4, Exercise 6-2 (similar to) Part 1 of 6 HW Score: 7,5%, 3 of 40 points O Polnts: 0 of 4 Save The Music carries a large inventory of guters and other musical instruments The store uses the FIFO method and a perpetual inventory system Company records indicate the following for a particular line of guitars Date Item Quantity Unit Cost Nov 1 Balanco 3920 6 Salo 1 8 Purchase 13 5856 17 Sale 4 30 Purchase 8 $856 Required Prepare a perpetual inventory record for the guitars Then determine the amounts The Music should report for ending inventory and cost of goods sold under the FIFO method Prepare the perpetual ventory record start by entering the opening balance of inventory Enter the transactions in chronological order. When entering sales, entor the oldest cost in the first line. Be sure to calculate the balance after each transaction (Use parentheses or a minus sign in front of the quantity and the total cost when those numbers are subtracted from Inventory) Date Quantity Unit Cost Total Cost por