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The records of Blue Spruce Company at the end of the current year show Accounts Receivable $93.900, Credit Sales $988,200; and Sales Returns and Allowances $48.800 (a) If Blue Spruce uses the direct write-off method to account for uncollectible accounts and Blue Spruce determines that Matisse's $1,098 balance is uncollectible, what will Blue Spruce record as bad debt expense? Bad debt expenses (b) If Allowance for Doubtful Accounts has a balance of $1,342 and Blue Spruce concludes bad debts are expected to be 10% of accounts receivable, what will Blue Spruce record as bad debt expense? Bad debt expenses Grouper Distribution markets CDs of numerous performing artists. At the beginning of March, Grouper had in beginning inventory 2,320 CDs with a unit cost of $7. During March Grouper made the following purchases of CDs. March 5 2.140 $8 March 21 5,440 @ $10 March 13 3.560 @ $9 March 26 1.910 @ $11 During March, 11,480 units were sold Grouper uses a periodic inventory system, (a) Your Answer Correct Answer (Used) Determine the cost of goods available for sale. The cost of goods available for sale $ 140,810 (b) Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average cost). (For calculation purposes, round average cost per unit to 3 decimal places, eg, 5.275. Round answers to O decimal places, eg. 125.) FIFO LIFO AVERAGE-COST $ $ The ending inventory The cost of goods sold $ $ $ eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit

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