Hunter's, Inc. reported a balance of $1,410 in its cash account at the end of the month. There were $1,200 of deposits in transit and $1,150 of checks outstanding. The bank statement showed a balance of $1,510, service charges of $70, and the collection of a note plus interest. The note had a face value of $170. How much interest did the bank collect for the company?

A)$30

B)$390

C)$290

D)$50

The Rebecca Company provided the following data for its December 31, 2016, inventory maintained on the retail basis.

	At Cost	At Retail
Beginning inventory	$165,000	$225,000
Purchases	275,000	446,000
Markups (net)		45,750
Markdowns (net)		(32,000)
Sales		575,000

What is the estimated inventory at December 31, 2016, valued at lower of average cost or market?

A)$44,069

B)$87,018

C)$70,522

D)$62,951