I need help with number 9 and 11

10. terms of sale that will result in the goods being in- cluded in (1) Bonita's December 31 inventory and (2) Myan's December 31 inventory. (b) Under what circumstances should Bonita Com- pany include consigned goods in its inventory? 6. Nona Hat Shop received a shipment of hats for which it paid the wholesaler $2.940. The price of the hats was $3,000, but Nona was given a $60 cash discount and required to pay freight charges of $75. What amount should Nona include in inventory? Why? 7. What is the primary basis of accounting for inventories? 8. Ken McCall believes that the allocation of cost of goods available for sale should be based on the actual physical flow of the goods. Explain to Ken why this may be both impractical and inappropriate. 9. What is the major advantage and major disadvan- tage of the specific identification method of inventory costing? "The selection of an inventory cost flow method is a decision made by accountants." Do you agree? Explain. Once a method has been selected, what ac- counting requirement applies? 11. Which assumed inventory cost flow method: (a) usually parallels the actual physical flow of mer- chandise? (b) divides cost of goods available for sale by total units available for sale to determine a unit cost? (c) assumes that the latest units purchased are the first to be sold? 12. In a period of rising prices, the inventory reported in Short Company's balance sheet is close to the current cost of the inventory, whereas King Company's inven- tory is considerably below its current cost. Identify the inventory cost flow method used by each company. Which company probably has been reporting the higher gross profit? Mamosa Corporation has been using the FIFO cost flow method during a prolonged period of inflation. During the same time period, Mamosa has been paying out all of its net income as dividends. What adverse effects may result from this policy? we switc bonus. T I." Is he 15. Discuss cash flo the imp 16. Hank A term ex departit tories a cost-or- 17. Jackson balance replace of-cost what v balanc 18. O the lo invent 19. Why i freigh 20. Tilton $162, made 21. vento negat 22. O sequc lyzing *23. "Whe sults as th you *24. How ing peric *25. Albe inve state inco inco 4. Oscar Geer, a mid-level product manager for Theresa's Shoes, thinks his company should switch from LIFO to FIFO. He says, "My bonus is based on net income. If