The following information is from the records of Banana Corporation: Ine company uses the direct witte-off method for bad debts. What is the amount of bad debts expense? $40,000 $16,000 $84,000 $61,000 After the December 31, Year 4 adjusting journal entries have been posted, Melon Enterprises has the following account balances (all accounts have normal balances): What is the net realizable value as of December 31 , Year 4 ? $149,100 $145,300 $140,400 $158,900 Lime company purchased 100 units for $20 each on January 31 . It purchased 400 units for $30 each on February 28 . It sold a total of 460 units for $110 each from March 1 through December 31 . If the company uses the last-in. first-out inventory costing method, calculate the cost of ending inventory on December 31. (Assume that the company uses a perpetual inventory system.) $3600 $1200 $800 $40