On January 1, 2017, Kingbird, Inc. purchased equipment for $61560. The company is depreciating the equipment at the rate of $860 per month. The book value of the equipment at December 31, 2017 is: $51240. $0. $61560. $10320. Cost of goods purchased is $540,000, ending inventory is $20,000, and cost of goods sold is $560,000. How much is beginning inventory? $40,000 O $20,000 $0 O $10,000 A company just began business and made the following four inventory purchases in June: June 1 111 units $730 996 June 10 148 units 148 units June 15 1016 June 28 111 units 786 $3528 A physical count of mer inventory on June 30 reveals that there are units on hand. Using the average-cost method, the amount alle ated ending inventory on June 30 is $986. $1009. O $1022. O $1062. Blue Spruce Corp. has the following inventory data: July 1 Beginning Inventory 7 Purchases 22 Purchases 46 units at $23 $1058 162 units at $24 3888 23 units at $26 598 $5544 A physical count of merchandise inventory on July 30 reveals that there are 58 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is $3932. $4198. $4106. O $4036. Kingbird, Inc. gathered the following reconciling information in preparing its August bank reconciliation: $31900 1400 7800 Cash balance per books, 8/31 Deposits in transit Notes receivable and interest collected by bank Bank charge for check printing Outstanding checks NSF check 180 18200 1550 The adjusted cash balance per books on August 31 is $37970. $36570. $22370. O $20970