Yount Company reports the following for the month of June

Date	Explanation	Units	Unit Cost
6/1	Inventory	200	23
6/12	Purchases	250	25
6/23	Purchases	300	27
6/30	Inventory	350

Yount uses periodic inventory system.

Calculate

LIFO EB

and

LIFO COGS

Suppose this company uses

average cost system (periodic). Round the average unit cost to two decimal points. The company found that if it replaces 350 units on June 30, it will cost $26 per unit. According to Lower-of-Cost-or-Market method, ending balance should be?

Show your work clearly.

Lebo Hardware reported the cost of goods sold as follows:

	Date
Beggining Inventory	30,800
Cost of Goods purchased	178,100
Cost of goods available for sale	208,900
Ending Inventory	36,800
Cost of goods sold	172,100

Lebo made one error - purchase made on December 31, 2009 ($2,500) is not

recorded, and not counted in ending inventory. What is correct cost of goods sold in 2009?

Show your work clearly.

At December 31, 2007, Braddock Company had a credit balance of $200 in

the Allowance for Doubtful Accounts. During 2008, Braddock wrote off accounts

totaling $300. One of those accounts ($50

) was later collected.

The ledger of Braddock Company at the end of 2008 shows that Sales, $1,500

and Sales discount of $100. And among net sales, 60% is credit net sales.

Bad

debt expense

is expected to 3% of

credit net sales

. What is ending balance of

allowance for doubtful accounts after you record bad debt expense?

Show your

work clearly.

On January 1, 2006, the Vasquez Company ledger shows Equipment $41,000

and Accumulated Depreciation $14,000. The depreciation resulted from using

the straight-line method with a useful life of 10 years and salvage value of

$1,000. On this date, the company concludes that its

useful life is only 7

years

with the new salvage value of $3,000.

Determine the revised annual dpereciation for year 2006

Beka Company owns equipment that cost $50,240 in 2007. It has been

depreciated using the straight-line method based on estimated salvage value

of $3,470 and an estimated useful life of 5 years. As of January 1, 2011, the

accumulated depreciation related to the equipment is $32,739. It sold the

equipment on

June 1, 2011

for $8,670. Determine the gains or losses from the

sale of the equipment.

Show your work clearly.