Use the following information for Exercises and Widmer Corporation's accounting records disclose the following information regarding purchases of inventory tem no 329 during May Cest Cont Beginning inventory, May 1 50 $10.10 Purchase, May 3 Purchase, May 8 12.00 Purchase, May 12 13.75 On May 15, Widmer sold 150 units at a price of $16.30 each 3. Assume Widner uses & perpetual inventory system. Compute the cost of goods sold and the cost of the ending inventory of 50 units under each of the following inventory methods Cast of Goods b. LIFO Average cost 4. Am Widnes a periodic inventory system. Compute the cost of goods weld and the cost of the ending inventory of 50 units under each of the following inventory methods Cost of Goods Inventory FIFO co b. LIFO cost 5. Assume the replacement cost of each unit of stem329 on May 31 is $12.50, and Widmer uses the FIFO cost flow assumption. Compute the cost of ending inventory and the cost of goods sold applying the lower-of-to-market rule (with "c" being defined the FIFO cost computed in crises) and 4 above) Cost of ending inventory using LCM le Cost of goods sold using LCM rule A truck with an estimated life of four years was acquired on March 31, Year 1, for $11,000 The estimated residual value of the truck is $1,000, and the service life 100,000 miles Compute depreciation for Year 1 and Year 2 using the following (where appropriate, sound depreciation to the nearest m Straight-line b. Fixed-percentage-of-declining balance twice the straight-line * Output miles driven: Year 1,20,000 Year 2.40,000) $ Year 2