Three questions in word doc please help

Optix Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31.

Item	Units	Unit Cost	Market
Cameras:
Minolta	5	$178	$160
Canon	10	143	171
Light meters:
Vivitar	13	134	103
Kodak	18	118	134

Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis.

The ending inventory

$

QUESTION #1 Optix Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Item Units Unit Cost Market Cameras: Minolta Canon 5 10 $178 143 $160 171 13 18 134 118 103 134 Light meters: Vivitar Kodak Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis. $ The ending inventory QUESTION #2 Ziad Company had a beginning inventory on January 1 of 387 units of Product 4-18-15 at a cost of $21 per unit. During the year, the following purchases were made. Mar. 15 July 20 1,032 units 645 units at at $24 $25 Sept. 4 Dec. 2 903 units 258 units at at $26 $30 2,580 units were sold. Ziad Company uses a periodic inventory system. Determine the cost of goods available for sale. $ The cost of goods available for sale Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) $ Average cost per unit Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average). (Round answers to 0 decimal places, e.g. 1,250.) FIFO The ending inventory The cost of goods sold LIFO AVERAGE-COST $ $ $ $ $ $ Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement? results in the highest inventory amount, $ (2) . produces the highest cost of goods sold, $ (1) . QUESTION #3 You are provided with the following information for Najera Inc. for the month ended June 30, 2014. Najera uses the periodic method for inventory. Date June 1 June 4 June 10 June 11 June 18 June 18 June 25 June 28 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase Units 41 136 112 13 52 8 63 33 Unit Cost or Selling Price $40 44 72 72 46 46 78 50 Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) $ Weighted-average cost per unit Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250.) LIFO The ending inventory The cost of goods sold Gross profit FIFO AVERAGE-COST $ $ $ $ $ $ $ $ $ Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e.g. 51.2%.) LIFO Gross profit rate FIFO % AVERAGE-COST % QUESTION #1 Your answer is incorrect. Try again. Optix Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Item Units Unit Cost Market Cameras: Minolta Canon 5 10 $178 143 $160 171 13 18 134 118 103 134 Light meters: Vivitar Kodak Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis. The ending inventory $ 2124 QUESTION #2 Ziad Company had a beginning inventory on January 1 of 387 units of Product 4-18-15 at a cost of $21 per unit. During the year, the following purchases were made. Mar. 15 1,032 units at $24 Sept. 4 903 units at $26 July 20 645 units at $25 Dec. 2 258 units at $30 Your answer is incorrect. Try again. Determine the cost of goods available for sale. The cost of goods available for sale $ 80212 Your answer is correct. Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Average cost per unit $ 24.88 Your answer is partially correct. Try again. Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average). (Round answers to 0 decimal places, e.g. 1,250.) FIFO The ending inventory The cost of goods sold LIFO $ $ 17776 AVERAGE-COST $ 14295 $ $ 62436 20234 $ 65917 59978 Your answer is partially correct. Try again. Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement? results in the highest inventory amount, $ res_EAT_135658 (1) FIFO . 20234 produces the highest cost of goods sold, $ res_EAT_135658 (2) LIFO . 65917 QUESTION #3 You are provided with the following information for Najera Inc. for the month ended June 30, 2014. Najera uses the periodic method for inventory. Date June 1 June 4 June 10 June 11 June 18 June 18 June 25 June 28 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase Units 41 136 112 13 52 8 63 33 Unit Cost or Selling Price $40 44 72 72 46 46 78 50 Your answer is incorrect. Try again. Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted-average cost per unit $ 44.53 Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250.) LIFO FIFO AVERAGE-COST $ Gross profit $ $ $ $ The cost of goods sold $ $ The ending inventory $ $ Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e.g. 51.2%.) LIFO Gross profit rate FIFO % AVERAGE-COST %