Totals 4,200 $86,900 3,100 Assuming that the company uses the periodic inventory system, compute the cost that should be assigned to ending inventory and to cost of goods sold using (a) the simple weighted average method, (b) the FIFO method, and (c) the LIFO method. Question 3: XYZ Construction Company purchased a cement mixer on January 1, 2011, for $14,500. The mixer was expected to have a useful life of five years and a residual value of $1,000. The company's year- end is December 31. 1.Compute the depreciation expense and carrying value for 2011 to 2013, using the following two methods: (a) straight-line, (b) double-declining- balance. 2. Prepare the adjusting entries to record the depreciation for 2011, 2012 and 2013 calculated in 1(a). 3. Show the balance sheet presentation for the cement mixer after the entry in 2 on December 31, 2013. 4. Sold the mixer at $2,000 in cash in January 2014, assuming DDB method is used. Prepare journal entry. Question 4: KLM Company is preparing the annual financial statements dated December 31, 2020. Quantity on Hand Unit Cost When Acquired Market Value at year end Item