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The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2013:

Date	Transaction	Number of Units		Unit Cost		Total Cost
1/1	Beginning inventory	150		$	32	$	4,800
2/22	Purchase	70			32		2,240
3/7	Sale	(100	)		-		-
4/15	Purchase	90			40		3,600
6/11	Purchase	140			35		4,900
9/28	Sale	(100	)		-		-
10/13	Purchase	50			38		1,900
12/4	Sale	(100	)		-		-
Required: (a) Assume that Kuffel Co. uses a periodic inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO. cost of goods sold: FIFO: $10,240 LIFO: $11,040 ending inventory: FIFO: $ 7,200 LIFO: $ 6,400 (b) Assume that Kuffel Co. uses a perpetual inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO. Cost of Goods Sold: FIFO: $10,240 LIFO:____________ Ending Inventory: FIFO: $7,200 LIFO:____________ A portion of the current assets section of the December 31, 2014, balance sheet for Carr Co. is presented here: Accounts receivable $ 42,000 Less: Allowance for bad debts (7,900 ) $ 34,100 The company's accounting records revealed the following information for the year ended December 31, 2014: Sales (all on account) $409,000 Cash collections from customers 419,000 Accounts written off 15,000 Bad debts expense (accrued at 12/31/14) 10,700 Required: Using the information provided for 2014, calculate the net realizable value of accounts receivable at December 31, 2013, and prepare the appropriate balance sheet presentation for Carr Co., as of that point in time. (Amounts to be deducted should be indicated with minus sign.) as of December 31, 2013 Accounts Receivable: __________________ less Allowance for Bad Debts:_____________ Net realizable value of Accounts Receivable:_______________

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