Question 1 View Policies Current Attempt in Progress Bramble Corp. is trying to determine the value of its ending inventory as of February 28, 2022, the company's year-end. The accountant counted everything that was in the warehouse as of February 28, which resulted in an ending Inventory valuation of $48,500. However, she didn't know how to treat the following transactions so she didn't record them. (a1) For each of the transactions below, specify whether the item in question should be included in ending Inventory and if so, at what amount. Of item is not included in the ending inventory then enter for the amounts) (a) On February 26, Bramble shipped to a customer goods costing $710. The goods were shipped FOB shipping point, and the receiving report Indicates that the customer received the goods on March 2 0.) On February 26, Martine Inc. shipped goods to Bramble FOB destination. The invoice price was $345 plus $20 for freight. The receiving report indicates that the goods were received by Bramble on March 2. Bramble had $485 of inventory at a customer's warehouse on approval" The customer was going to let Bramble know whether it wanted the merchandise by the end of the week, March (c) Bramble had $485 of inventory at a customer's warehouse 'on approval. The customer was going to let Bramble know whether it wanted the merchandise by the end of the week, March (d) Bramble also had $385 of inventory at a Belle craft shop, on consignment from Bramble. Included Not Included On February 26, Bramble ordered goods costing $700. The goods were shipped FOB shipping point on February 27. Bramble received the goods on March 1. On February 28, Bramble packaged goods and had them ready for shipping to a customer FOB destination. The invoice price was $315 plus $25 for freight; the cost of the items was $245. The receiving report indicates that the goods were received by the customer on March 2. 8 Bramble had damaged goods set aside in the warehouse because they are no longer saleable. These goods originally cost $425 and originally, Bramble expected to sell these items for $725. Question 2 View Policies Current Attempt in Progress Tamarisk, Inc. markets CDs of numerous performing artists. At the beginning of March, Tamarisk had in beginning inventory 2,600 CDs with a unit cost of $7. During March. Tamarisk made the following purchases of CDs @ March 5 2,200 March 133,000 $8 $9 March 21 5,400 March 262 ,200 $10 $11 During March 12,100 units were sold. Tamarisk uses a periodic Inventory system. Determine the cost of goods available for sale The cost of goods available for sales Calculate Average Cost. (Round answer to CELE 5.125.) Average cost $ Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average cost). (Round answers to 125.) decimal places, FIFO LIFO AVERAGE-COST The ending Inventory The cost of goods sold $ eTextbook and Media List of Accounts Which cost flow method results in (1) the highest inventory amount for the balance sheet and (2) the highest cost of goods sold for the income statement? produces the highest inventory amount. produces the highest cost of goods sold. Average co eTextbook and Media