Cost to distribute 27.38 11.53 3.60 Current replacement cost 292.52 151.31 73.49 Normal profit margin 46.11 41.79 30.62 Determine the following: Question 3 Matlock Company uses a perpetual inventory system. Its beginning inventory consists of 67 units that cost $ 40 each. During June, the company purchased 202 units at $ 40 each, returned 8 units for credit, and sold 168 units at $ 67 each. Journalize the June transactions. Question 4 Amsterdam Company uses a periodic inventory system. For April, when the company sold 700 units, the following information is available. Compute the April 30 inventory and the April cost of goods sold using the average cost method. Question 5 Amsterdam Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Question 6( FIFO, LIFO, Average Cost Inventory) Esplanade Company was formed on December 1, 2011. The following information is available from Esplanade’ s inventory records for Product BAP. Purchases Units Unit Cost January 1, 2012( beginning inventory) 762 8.00 January 5, 2012 1,524 9.00 January 25, 2012 1,651 10.00 February 16, 2012 1,061 11.00 March 26, 2012 762 12.00 A physical inventory on March 31, 2012, shows 2,032 units on hand. Prepare schedules to compute the ending inventory at March 31, 2012, under each of the following inventory methods. Assume Esplanade Company uses the periodic inventory method. Question 7 Floyd Corporation has the following four items in its ending inventory. Determine the final lower of cost or market inventory value for each item. Question 8 Kumar Inc. uses a perpetual inventory system. At January 1, 2013, inventory was $ 320,786 at both cost and market value. At December 31, 2013, the inventory was $ 428,714 at cost and $ 403,231 at market value. Prepare the necessary December 31 entry under: Question 9 Boyne Inc. had beginning inventory of $ 15,000 at cost and $ 25,000 at retail. Net purchases were $ 150,000 at cost and $ 212,500 at retail. Net markups were $ 12,500; net markdowns were $ 8,750; and sales were $ 196,250. Compute ending inventory at cost using the conventional retail method. Question 10( Gross Profit Method) Astaire Company uses the gross profit method to estimate inventory for monthly reporting purposes.