Question 36 A company just starting business made the following four inventory purchases in June: Date Number of units purchased Total cost June 1 150 units $ 370 June 10 160 units 600 June 15 160 units 700 June 28 140 units 770 $2440 A physical count of merchandise inventory on June 30 reveals that there are 280 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is $1724. $858. $1120. $1339.

Question 36 A company just starting business made the following four inventory purchases in June: Number of units Date purchased Total cost June 1 150 units $ 370 June 10 160 units 600 June 15 160 units 700 June 28 140 units 770 $2440 A physical count of merchandise inventory on June 30 reveals that there are 280 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is $1724. $858 $1120. $1339. Question 38 Swifty Corporation bought equipment on January 1, 2018. The equipment cost $345000 and had an expected salvage value of $59400. The life of the equipment was estimated to be 6 years. Assuming straight-line deprecation, the book value of the equipment at the beginning of the third year would be O $345000 O $142800. O $95200 O $249800