My questions are SE7-4 and SE7-8

Accounts payable. Sales revenue. Freight-out. 20 h. SE7-2. Gross Profit Percentage Using the data below, compute Dino's gross profit percentage for the month of January $10,000 4,000 Net sales. Cost of goods sold Operating expenses. Other income .. Income tax expense. 3,000 500 1,200 a. SE7-3. Departures from Acquisition Cost At year-end, The Appliance Shop has a refrigerator that has been used as a demonstration model. The refrigerator cost $350 and sells for $500 when new. In its present condition, the refrigerator will be sold for $325. Related selling costs are an estimated $15. At what amount should the refrigerator be carried in inventory? $350 c. $325 b. $335 d. $310 SE7-4. Inventory Costing Methods Which inventory costing method requires that a company keep track of the cost of each specific unit of inventory? a. Specific identification b. Lower of cost or net realizable value LIFO d. All of the above c. ending inventory is 100 units that had cost $15 each. If the company can set the 150 units at a price of $16 each, what value should be assigned to the company's end- ing inventory assuming that it applies LCNRV? LO4 SE7-7. Inventory Turnover and Days' Sales in Inventory W. Glass & Company reported the following L06 information in its recent annual report: MIBC MIBC Year 1 Year 2 Cost of goods sold Beginning inventory $4,000,000 $4,600,000 Ending inventory. 900,000 860,000 860,000 640,000 Calculate the company's inventory turnover and days' sales in inventory for both years. SE7-8. Inventory Costing Methods and the Periodic Method Lambeth Company experienced the fol- LO2 lowing events in January: MIBC Units Event Unit Cost Total Cost Date 100 $12 $1,200 Jan. 10 Purchased inventory. 200 14 2,800 Jan. 20 Purchased inventory. 150 Jan. 30 Sold inventory... @ NIEC If the Lambeth Company uses the FIFO inventory costing method, calculate the company's cost of goods sold and its ending inventory as of January 31 assuming the periodic method. SE7-9. Inventory Costing Methods and the Periodic Method Lambeth Company experienced the fol- LO2 lowing events in February: Total Cost Units Unit Cost $2,000 $20 Event 100 50 Date ton $22 $2,200