Tyler Toys has beginning inventory for the year of $19,100. During the year, Tyler purchases inventory for $238,000 and has cost of goods sold equal to $241,000. Tyler's ending inventory equals:

Baker Fine Foods has beginning inventory for the year of $10,500. During the year, Baker purchases inventory for $170,000 and ends the year with $21,000 of inventory. Baker will report cost of goods sold equal to:

Good Inc., sold inventory for $1,200 that was purchased for $700. Good records which of the following when it sells inventory using a perpetual inventory system?

No entry is required for cost of goods sold and inventory.

Debit Cost of Goods Sold $700; credit Inventory $700.

Debit Cost of Goods Sold $1,200; credit Inventory $1,200.

Debit Inventory $700; credit Cost of Goods Sold $700.

Beasley, Inc. reports the following amounts in its December 31, 2018, income statement.

Sales revenue$380,000Income tax expense$ 31,000Interest expense11,000Cost of goods sold129,000Salaries expense30,000Advertising expense24,000Utilities expense40,000

Prepare a multiple-step income statement.

On April 1, Robert LLC purchased two units of inventory, A and B. The cost of unit A was $655, and the cost of unit B was $590. On April 30, Robert LLC had not sold the inventory. The net realizable value of unit A was now $680 while the net realizable value of unit B was $515. The adjustment associated with the lower of cost and net realizable value on April 30 will be:

The following information pertains to Julia & Company:

March 1 Beginning inventory = 28 u..;@$5.40

March 3 Purchased 15 units@ 3.90

March 9 Sold 27 units@ 8.60

What is the cost of goods sold for Julia & Company assuming it uses LIFO?(Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)