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Plant World Company purchased a delivery van for $60,000 on January 1. The van has an estimated 10-year life with a residual value of $6,500.
Plant World Company purchased a delivery van for $60,000 on January 1. The van has an estimated 10-year life with a residual value of $6,500. What would the depreciation expense for this van be in the first year if Plant World uses the straight-line method? OA. $5,350 B. $60,000 OC. $53,500 OD. $6,000 Question Help Tomasino's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 90 units at $8 per unit 310 units at $12 per unit 120 units at $13 per unit At January 31, 210 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? OA. $2,640 OB. $1,680 OC. $2,160 OD. $1,890
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