In October of year 0, Janine received a $4,000 payment from a client for 25 months of security services she will provide starting on November 1 of year 0 . This amounts to $160 per montr. What amount of revenue must Janine recognize in year 1 from the $4,000 advance payment for services if she uses the accrual method of accounting? Suppose that David had the following transactions for his business inventory of widgets (purchase prices below). In late December, David sold widget \#2. What ending inventory would David record if he elects to use the FIFO method this year