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WS. Stewart Co.'s beginning inventory, purchases and sales during the year ending December 31, 2015, were as follows: There were 1, 800 units at the
WS. Stewart Co.'s beginning inventory, purchases and sales during the year ending December 31, 2015, were as follows: There were 1, 800 units at the end of 2015. Determine the ending inventory($) on December 31, 2015 using the perpetual system and the LIPO method. Staley Enterprises purchased a machine for $260,000. The seller paid $900 freight to deliver the machine. Staley used $4, 600 of staff mechanics' time to install the machine and employee training cost $7,000 for proper operation of the machine. The state charged a 5% sales tax on the invoice price. What is the capitalized cost of the machine
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