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Question 1:

MacFarland Inc.s January 1 inventory consisted of 10 units @ $91 each. MacFarland shows the following data for 20X1:

Date	Purchases	Sales
February 2	15 units @ $106 each
March 3		20 units @ $150/unit
May 12	20 units @ $115 each
June 22	10 units @ $119 each
Sept. 13		23 units @ $150/unit

If MacFarland uses the perpetual method and moving-average costing, what is the value of its ending inventory on December 31?

a) $1,368

b) $1,420

c) $1,293

d) $1,260

$1,330

Question 2)

GTI Company uses a perpetual inventory system. It entered into the following purchase and sale transactions for April:

Date	Activity	Units acquired at cost	Units sold at retail
April 1	beginning inventory	20 units @ $3,000/unit
April 5	purchase	30 units @ $3,500/unit
April 9	sale		35 units @ $12,000/unit
April 18	purchase	5 units @ $4,500/unit
April 25	purchase	10 units @ $4,800/unit
April 29	sale		25 units @ $14,000/unit
	TOTALS	65 units	60 units

Compute the ending inventory for the month using LIFO:

		$215,500
		$24,000
		$15,000
		$220,500
		$211,500
		$20,000

Question 3)

ClickCo begins operations in 20X1 uses the periodic method and LIFO costing, and purchases merchandise as follows

20X1	Units	Unit cost
March	450	$3.00
August	650	$3.50
20X2
February	550	$4.00
October	250	$5.00

If ClickCo sells 850 units in 20X1 and again in 20X2, ending inventory on the 20X2 balance sheet will be:

$800

$700

$0

$600

$1,000

Please solve all of these I don't have any remaining questions which I can post here, and I am already failing the course. I will surely upvote you.

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