Problem 8-01 The following independent situations relate to inventory accounting. Answer the following questions about inventories. Vaughn Co. purchased goods with a list price of $168,300, subject to trade discounts of 20% and 10%, with no cash discounts allowable. How much should Vaughn Co. record as the cost of these goods? Cost of goods purchased Bramble Company's inventory of $1,062,300 at December 31, 2020, was based on a physical count of goods priced at cost and before any year-end adjustments relating to the following items. (a) Goods shipped from a vendor f.o.b. shipping point on December 24, 2020, at an invoice cost of $75,630 to Bramble Company were received on January 4, 2021. (b) The physical count included $30,510 of goods billed to Sakic Corp. f.o.b. shipping point on December 31, 2020. The carrier picked up these goods on January 3, 2021. What amount should Bramble report as inventory on its balance sheet? Inventory to be reported $ Sunland Corp. had 1,880 units of part M.O. on hand May 1, 2020, costing $29 each. Purchases of part M.O. during May were as follows. May 9 17 26 Units 2,380 3,880 1,380 Units Cost $30 32 33 A physical count on May 31, 2020, shows 2,380 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.o. inventory at May 31, 2020? Using the LIFO method, what is the inventory cost? Using the average-cost method, what is the inventory cost? (Round average cost per unit to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 1,620.) FIFO LIFO Average Cost Inventory Cost $ $ Coronado Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO. Inventory 1/1/20 12/31/20 12/31/21 At Base-Year Cost $206,800 226,500 232,600 At Current-Year Cost $206,800 271,800 288,424 Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2021? December 31, 2021 Price Index Dollar-value LIFO inventory $ Whispering Inc., a retail store chain, had the following information in its general ledger for the year 2021. Merchandise purchased for resale Interest on notes payable to vendors Purchase returns Freight-in Freight-out (delivery expense) Cash discounts on purchases $884,460 8,450 15,210 23,530 15,750 6,848 What is Whispering's inventoriable cost for 2021? Whispering's inventoriable cost for 2021