The units of an item available for sale during the year were as follows: 27 units at $400 per unit Jan.1 Feb. 19 Inventory Purchase June 8 Purchase 57 units at $460 per unit 61 units at $520 per unit 58 units at $550 per unit Oct. 7 Purchase There are 45 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost under each of the following methods. a. Determine the inventory cost by the first-in, first-out method. b. Determine the inventory cost by the last-in, first-out method. c. Determine the inventory cost by the average cost method. Do not round intermediate calculation and round final answer to the nea value. Depreciation by Two Methods A Caterpillar tractor acquired on January 12 at a cost of $180,000 has an estimated useful life of 25 years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. Round your answer to the nearest centif rounding is required Depreciation First year Second year b. Determine the depreciation for each of the first two years by the double-declining balance method. Round your answer to the nearest cent if rounding is required Depreciation First year Second year Book Value of Fixed Assets The following data (in millions) were adapted from recent annual reports of United Parcel Service, Inc. (UPS). UPS provides delivery and freight services throughout the world. Year 2 Year 1 Vehicles $700,530 $406,307 Aircraft 525,398 Land 91,069 665,504 105,080 847,641 903,684 Buildings 637,482 Equipment 896,678 Construction in progress 14,011 7,005 Less accumulated depreciation (889,673) (742,562) a. Compute the book value of the fixed assets for years 1 and 2 Year 2 book value million million Year 1 book value its operations in year 2 from of fixed assets. This is typical of b. UPS appears to have growing companies