Please so all parts

1. The following information on selected cash transactions for 2020 has been provided by Simpson Company: Proceeds from sale of land $160,000 Proceeds from long-term borrowings 400,000 Purchases of plant assets 144,000 Purchases of inventories 680,000 Proceeds from sale of Simpson common stock 240,000 What is the cash provided (used) by investing activities for the year ended December 31, 2011, as a result of the above information? a. $16,000 b. $256,000 c. $160,000 d. $800,000 TJones Manufacturing Company has the following account balances at year end: Office supplies $ 4,000 Raw materials 27,000 Work-in-process 59,000 Finished goods 72,000 Prepaid insurance 6,000 What amount should TJones report as inventories in its balance sheet? a. $72,000 b. $76,000 c. $ 158,000 d. $162,000 2. 3. Which of the following is not a necessary characteristic for an item to be classified as property, plant, and equipment? a. Can be used in operations for at least 5 years b. Characterized by physical substance c. Usually subject to depreciation d. Not acquired for resale 4. 5. The cost of land does not include a. costs of grading, filling, draining, and clearing. b. costs of removing old buildings. C. costs of improvements with limited lives. d. special assessments. Which inventory costing method most closely approximates current cost for each of the following: Ending Inventory Cost of Goods Sold FIFO FIFO b. FIFO LIFO LIFO FIFO d. LIFO LIFO a. C