1. The following information for Aden Company is available:

   	Case
   	1	2	3	4	5
   Cost	$5.00	$5.00	$5.00	$5.00	$5.00
   Net realizable value	5.10	5.50	4.80	4.20	4.75
   Net realizable value less normal profit	4.80	5.40	4.70	4.00	4.60
   Replacement cost	5.30	5.30	4.60	4.15	4.90

   Required:

   1.	Assume Tuell uses the LIFO cost flow assumption. What is the correct inventory value in each of the preceding situations under U.S. GAAP? If required, round your answers to the nearest cent.

   Case		Inventory value
   1		$
   2		$
   3		$
   4		$
   5		$

   2.	Assume Tuell uses the average cost inventory cost flow assumption. What is the correct inventory value in each of the preceding situations under U.S. GAAP? If required, round your answers to the nearest cent.

   Case		Inventory value
   1		$
   2		$
   3		$
   4		$
   5		$

   3.	Assume that Tuell uses the average cost inventory cost flow assumption. What is the correct inventory value in each of the preceding situations if Aden uses IFRS? If required, round your answers to the nearest cent.

   Case		Inventory value
   1		$
   2		$
   3		$
   4		$
   5		$

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