Given the quantity, unit cost, and selling price of 5 different products along with sales commission… determine the inventory carrying value using the lower cost or net realizable value rule to individual products and the entire inventory while also recording an adjusting journal entry.

Given the quantity, unit cost, unit replacement cost, and unit selling price of 5 different products along with sales commission and normal profit percent… calculate the inventory carrying value using lower cost or market rule to individual products and to entire inventory while also preparing an adjusting entry.

Given the cost and retail value data for the year… determine the estimated ending inventory and ending cost of goods sold using both average cost and conventional methods.

Given data regarding the cost and retail value of items… calculate ending inventory using both the average cost and conventional method.

Given information regarding the cost and retail value for numerous items… calculate the ending inventory and ending cost of goods sold using the LIFO retail method.

Given data that relates to the cost and retail value of items for two years along with the price index… calculate the ending inventory and costs of goods sold for both years using the LIFO retail inventory method.

Given cost and retail information for two different years along with price indexes… estimate the ending inventory and cost of goods sold using three different methods.

Given the inventory, net purchases, net sales, and gross profit ratio… calculate the estimated cost of topping lost in fire along with determining what factors could cause the estimates to be over or understated.