Question 8,9,10

8. Beginning inventory: 10 units @ 10.00 per unit First purchase: 35 units @ $11.00 per unit First sale: 20 units Second purchase: 40 units @ $12.00 per unit Second sale: 35 units Third purchase: 15 units @ $13.00 per unit The value of the ending inventory using a perpetual inventory system with the FIFO valuat method is: a. $555.00 b. $495.00 C. $520.00 d. $485.00 9. An asset having a five-year service life and a salvage value of $15,000 was acquired for $135 cash on April 5. Using straight-line depreciation, what will be the depreciation expense at th of the first year and for the entire second year? The accounting period ends on December 3 a.. $18,000 and $24,000 b. $24,000 and $24,000 C. $16,000 and $24,000 d. $20,000 and $424,000 10. The accounting equation can be stated as: a. Assets = Liabilities + Equity b. Liabilities + Assets = Equity C. Balance sheet + Net Income d. Assets = notes payable + cash