The bank statement reported an ending balance of $14,620 after deducting $220 in service charges and an addition of $4,500 for a note collected by the bank on the company's behalf. The company books reported an ending balance of $9,690, and determined that deposits in transit equal $5,600 and outstanding checks equal $6,250. What is the adjusted cash balance?

Select one:

A. $13,970

B. $ 5,600

C. $11,970

D. $ 7,040

Mendez Company uses the periodic inventory system. For the current month, the beginning inventory consisted of 1,200 units that cost $15 each. During the month, the company made two purchases: 500 units at $14.50 each and 2,000 units at $14.00 each. Mendez Company also sold 2,150 units during the month. Using the periodic FIFO method, what is the cost of ending inventory?

Select one:

A. $21,700

B. $18,950

C. $20,073

D. $18,600

The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of McKensie Company for an operating period.

	Units	Unit Cost	Total Cost	Units Sold	Units on Hand
Beginning Inventory	20	$29	$ 580		20
Purchase no. 1	20	31	620		40
Sale no. 1				30	10
Purchase no. 2	90	32	2,880		100
Sale no. 2				80	20
Purchase no. 3	70	36	2,520		90
Totals	200		$6,600

Assuming McKensie Company uses FIFO perpetual inventory procedures, sale no. 1 is recorded as an entry to Cost of Goods Sold for:

Select one:

A. $900

B. $910

C. $890

D. $960

E. None of the above

Data on the physical inventory for a company as of December 31, 2013 are given below:

Inventory Items	Quantity on hand	Unit Cost	Unit Market Value
Appliances:
Refrigerators	12	$500	$450
Dishwashers	18	$300	$275
Ovens	15	$250	$300
Electronics:
Stereos	20	$350	$375
Televisions	25	$450	$426

Assuming the company applies the LCM method on the inventory by major category of items, the inventory balance reported on the Balance Sheet as of December 31, 2013 will be:

Select one:

A. $33,000

B. $33,100

C. $33,300

D. $33,400