Problem F (24 points) -PROBLEMS- UCTIONS: Solve the following problems and record the answers in the Answers column. For Scoring Answers 0. The amount credited to sales for the sale of merchandise costing $100 with 30% added to the cost price to determine selling price, is $130 1. Beginning inventory. purchases, and sales of a commodity are presented below Inventory: April 1 Sales: April 4 22 units at $36 35 units 14 units 10 units 40 units at $40 15 units at $50 10 20 Purchases: April 2 16 Assuming that the perpetual inventory system is used, the cost of the inventory balance on April 30 by the FIFO method is Based on the data in Question 1, the cost of the inventory balance on April 30 by the LIFO method is 2. 2. 3. Summarized data on sales and merchandise available for sale are as follows: Retail $340,000 480,000 780,000 Merchandise inventory Purchases (net) Sales (net) $175,000 225,000 June 1 June 1-30 June 1-30 The estimated cost of the merchandise inventory on June 30 by the retail method is 3. 4. Summarized data on sales and merchandise available for sale are as May 1Merchandise inventory May 1-31 Purchases (ne) May 1-31Sales (net) $ 500,000 600,000 1,000,000 If the estimated rate of gross profit is 25%, te estimated cost of the merchandise inventory on May 31 is Merchandise was ordered from a supplier for $25,000 on December 28, 2008, shipped by the supplier on December 30, 2011, under terms of FOB destination, and received on January 4, 2012, if 40% is added to its cost by tho purchaser to determine selling price, the amount to be included in the inventory of the purchaser on December 31, 2011, is. The following lots of a particular commodity were available for sale during the year Beginning inventory First purchase 5. 5. 6. 20 units at $53 40 units at $55 50 units at $57 40 units at $60 Second purchase Third purchase Based on the periodic ystern, otal cost of tho 27 units in inventory at the end of the year, according to the first-in, first-out method, is Based on the data in Question 6, the total cost of the 27 units in 7. inventory by the last-in, first-out method is 8 Based on the data in Question 6, the total cost of the 27 units in inventory by the average cost methiod is