Question 11 (1 point) In 2021, Heather Corporation had net sales of $1,659,000, gross profit of $768,225, and net income of $268,499. Assuming the cost of goods available for sale was $1,462,000, what is the value of ending inventory? $499,726 $890,775 $693,775 $571,225 Question 12 (1 point) Cassidy Inc. acquired land, buildings, and equipment from a bankrupt competitor at a lump-sum price of $216,000. An appraisal shows the following fair values: Land: $60,000 Buildings: $132,000 Equipment: $48,000 How should Cassidy allocate the purchase price to the land, buildings, and equipment, respectively? $72,000; $72,000; $72,000 $54,000; $118,800; $43,200 $66,667; $120,000; $53,333 $60,000; $132,000; $48,000