its verdict next year. Is this loss required to be reported this year or next year? This year Next year t. Berful plans to purchase treasury stock this year, and to classify it as a current asset on its balance sheet carried at its historical cost. Is this correct? Yes No 2. Calculate the following, and place the calculated solution on the appropriate line. In all cases, assume the companies that are the subject of the question are US corporations using US GAAP. a. Berful sells a product. It had one item in beginning inventory that cost $60,000, and purchased two more-one for $70,000, and later, one for $80,000. If two of the three items were sold this year, determine the cost of ending inventory under the following cost flow assumptions. FIFO LIFO Weighted Average b. Berful buys a machine for $25,000 on the first day of the Focus inited States) dty RAW la MacBook Pro Aa v PO HO