The following information pertains to Lillys Flower Co.

March 1: Beginning inventory = 440 units @$50.00

March 5: Purchased 250 units @$40.00

March 15: purchased 100 units @$45.00

March 18: Sold 600 units @$80.000

Sold 600 units; units in ending inventory: 190 units

A. What is the ending inventory for Lilly Flowers Co. if they use the FIFO method?

B. What is the ending inventory for Lilly Flowers Co. if they use the LIFO method?

C. Determine the ending inventory for Lilly Flowers Co. if the average cost method is used.

D. Determine the COGS for Lilly Flowers Co. if it uses LIFO method

E. Determine the COGS for Lilly Flowers Co. if it uses LIFO method

F. What is Lilly flowers Co. COGS if it uses average cost method

G. What is Lilly Flowers Co. gross profit, if it uses the average cost method?

Cider company purchased a 15-month, $50,000, 6% note on June 1, 2019. What is the journal entry for December 31, 2019?

A. Interest Income $1500

Interest receivables $1500

B. Interest Receivable: 1,500

interest income: 1,500

C. interest income: 1,750

interest receivable 1,750

D. interest receivable 1,750

interest income 1,750

On December 31, 2018, the payment on a $4,500, 120-day, 10% note dated November 1, 2018, will recognize: (please round to the nearest dollar and use 365 day year)

A. interest receivables $75

interest revenue: $75

B. Interest revenue: $75

interest receivable: $75

C. no entry needed

D. Interest Receivable: $148

interest revenue: $148

the LBG company is preparing its financial statements on December 31. During the year, they purchased IBM sock as a trading security for $20,000. on December 31, the market value of the stock is $8,000. The journal entry on December 31 will be:

A. Loss $8000

IBM stock $8000

B. IBM stock $12,000

loss $12,000

C. Loss $12,000

IBM stock $12,000

D. no etry

The bank statement balance is $6450, and shows a service charge of $30, interest earned of $25, and a NSF check for $475. Deposits in transit total $1850; outstanding checks are $1125. what is the adjusted bank balance?

A. $5,920

B. $6,450

C. $6,755

D. $7,175