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please 1. On January 1st, ABC purchased merchandise inventory from XYZ with an invoice price of $100 and credit terms of 2/10,n/30. On January 5th,
please 1. On January 1st, ABC purchased merchandise inventory from XYZ with an invoice price of $100 and credit terms of 2/10,n/30. On January 5th, ABC returned half of the merchandise. What is the amount of the payment from ABC to XYZ ir ABC pays for the merchandise on January 10th? $98, 549.999 or $48? 2. ABC has the following inventory information: July 1 Beginning Inventory 20 units at $19 each $380 July 7 Purchases 70 units at $20 each 1,400 July 22 Purchases 10 units at $24 each 240 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO method, the amount allocated to the cost of goods sold for July is: $1,440, S1,380, $1,470, or $1.414? 3. ABC just finished counting its ending inventory in the warehouse and determined it was $100. Afterward, ABC discovered that inventory costing $20 was sold to a buyer under the terms F.O.B. shipping point and was not included in the count. Also, ABC discovered that the inventory count included $15 of inventory that was on consignment from XYZ. What is the correct amount of ABC's ending inventory? $85 $65. $120, or $105
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