Question 49 1 pts Purchases and sales during the period were: Beginning Inventory Purchases 1/1 200 units @ $1 - $200 900 units @ $2 $1,800 1/8 500 units @ $3 $1.500 1,600 units available $3,500 Sales 1.500 units 100 units Ending Inventory What is the value of ending inventory if the average cost method is used? O $300 $219 $233 $100 D Question 44 1 pts Brock Lesnar Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: Product Cost Market $55,000 $60,000 A B 36,000 38,000 80.000 81,000 If Lesnar applies the LCM basis, the value of the inventory reported on the balance sheet would be O $175,000 $181,000 5171,000 O $173,000 Question 27 1 pts Joel McHale Company acquires land for $260,000 cash. Additional costs are as follows: Demolition of Building $2,000 1,280 Salvage value of steel from demolition Filling and grading Paving of parking lot Broker commission 6,000 40,000 4,520 Closing costs 3,400 McHale will record the acquisition cost of the land as $275.920 $260,000 $274,640 $277200