Question 5 (2 points) Listen Markel Inc. has acquired a parcel of land and a building for a total cost of $700,000 paid with cash. An independent appraisal supports the fair value of land and building at $300,000 and $500,000 respectively. What is the acquisition cost of land that Markel Inc. should record? $300,000 $262,500 $500,000. $437,500. Question 6 (2 points) 1) Listen Razor Company purchased $20,000 of inventory on credit with credit terms of 3/10, n/45. Razor paid for the purchase within the discount period. How much cash did Razor pay for the inventory? $19,800. $19,400. O $19,600. $20,000. Question 15 (2 points) Listen The activity for a specific inventory item for the month of March was as follows: Units 30 Unit Cost S25 Total Cost S 750 March 1 inventory Purchases March 3 March 10 March 15 Goods Available for Sale Sales: March 11 March 19 120 80 20 320 30 35 40 3,600 2.800 3.000 S 10.750 140 100 2410 Using weighted average cost under a periodic inventory system, what is the balance of Ending Inventory (round intermediate and final calculations to the nearest dollar) as at March 31? O $2,720. $2,600 O $2,640. $2,800. Question 16 (2 points) Listen The activity for a specifie inventory item for the month of March was as follows Units 30 Unit Cost $25 Total Cast S 750 March 1 inventory Purchases: March 3 March 10 March 15 Goods Available for Sale Sales: March 11 March 19 120 80 90 320 30 35 40 3,600 2.800 3.600 S 10.250 140 100 240 Using weighted average cost under a perpetual inventory system, what is the amount of Cost of Goods Sold (round intermediate and final calculations to the nearest dollar) recorded on March 11? $4,340. $4,060 $4,480. $4,760