Search or type a command Gr.01) 15. Taylor Company is a wholesaler which purchases goods from manufacturers and sells to retailers. Taylor uses perpetual inventory system. During the month of April, Taylor makes purchases for a particular type of an olive oil from a manufacturer. These purchases are as follows: Purchase date April 6 April 18 Units 200 bottles 167 bottles Unit cost $6 per bottle $6.3 per bottle On April 19. Taylor sells 245 bottles of olive oil to several customers at a selling price of $8.5 per bottle. If the company uses FIFO method, the cost of ending inventory on April 19 is: Search or type a command 2 Gr.01) 16. Company uses perpetual inventory system and FIFO inventory costing method. On September 16, the company sells 35 units. On September 22, the company sells 13 units more. Selling price is $25 per unit. The following inventories are available prior to sales: Units and Cost September 1 balance 20 units at $16 each September 3 purchase 32 units at $16.5 each What is cost of goods sold for the sale made on September 22? I Search or type a command Gr.01) 17. Suppose the balance of Allowance for Uncollectible Accounts at the end of the current year is $400 (credit) before any adjustment. The company estimates future uncollectible accounts to be $600 using the income statement approach. At what amount would bad debt expense be renarted in the current year's income statement? Search or type a command e Gr.01) 18. A merchandising company uses a perpetual inventory system and LIFO method. Details regarding the beginning inventory and purchases of a particular product related to the month of June are as follows: Units 198 Date June 1 (beginning inventory) June 7 (1st purchase) June 11 (2nd purchase) Unit Cost $6.2 $6.3 $6.5 On June 8, the company seils 356 units at a selling price of $10 per unit. What is cost of goods sold for the sale made on June 8? 19