(Various Inventory Issues) The following independent situations relate to inventory accounting.

1 Jag Co. purchased goods with a list price of $150,000, subject to trade discounts of 20% and 10% with no cash discounts allowable. How much should Jag Co. record as the cost of these goods?

2 Francis Company's inventory of $1,100,000 at December 31, 2008, was based on a physical count of goods priced at cost and before any year-end adjustments relating to the following items.

a. Goods shipped f.o.b. shipping point on December 24, 2008, from a vendor at an invoice cost of $69,000 to Francis Company were received on January 4, 2009.

b. The physical count included $29,000 of goods billed to Sakic Corp. f.o.b. shipping point on December 31, 2008. The carrier picked up these goods on January 3, 2009.

What amount should Francis report as inventory on its balance sheet?

3 Mark Messier Corp. had 1,500 units of part M.O. on hand May 1, 2008, costing $21 each. Purchases of part M.O. during May were as follows.

Units Cost

May 9 2,000 $22

May 17 3,500 $23

May 26 1,000 $24

A physical count on May 31, 2008, shows 2,100 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.O. inventory at May 31, 2008? Using the LIFO method, what is the inventory cost? Using the average-cost method, what is the inventory cost?

4 Forsberg Company adopted the dollar-value LIFO method on January 1, 2008 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO.

Inventory At Base Year Cost At current year Cost Price Index

1/1/08 $200,000 $200,000 100

12/31/08 240,000 252,000 105

12/31/09 256,000 286,720 112

Using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2009?

5 Eric Lindros Inc., a retail store chain, had the following information in its general ledger for the year 2009.

Merchandise purchased for resale $909,400

Interest on notes payable to vendors 8,700

Purchase returns 16,500

Freight-in 22,000

Freight-out 17,100

What is Lindros' inventoriable cost for 2009?