Please Show Work - #4

4. Wroxton Co, which uses the periodic method, has beginning inventory of $100,000. During the fiscal year, it purchases $200,000 of inventory. Goods were purchased FOB shipping point and were $8,000. What is the balance in Wroxton's Purchases account at year end? a. $308,000 b. $300,000 $208,000 $200,000 5. For 20X1, MacFarland Inc.'s units on hand on January 1 had a unit cost of $14. MacFarland shows the following data for 20X1: Date Purchases Sales January 1 Units on hand February 2 60 units @ $15 each 40 March 3 May 12 70 units 90 units @ $16 each June 22 Sept. 13 75 units @ $18 55 units November 24 60 units