1. From the following calculate by the weighted-average method (a) the cost of ending inventory, and (b) the cost of goods sold. Ending inventory shows 18 units.

   	Number Purchased for resale	Cost per unit	Total
   January 1 inventory	12	$2	$24
   March 1	9	$3	$27
   April 1	20	$4	$80
   November 1	15	$5	$75

2. Rework No. 1 using the FIFO assumption.
3. Rework No. 1 using the LIFO assumption.
4. Bill's Dress Shop's inventory at cost on January 1 was $32,500. Its retail value is $50,000. During the year, Bill purchased additional merchandise at a cost of $170,000 with a retail value of $366,000. The net sales at retail for the year were $345,000. Calculate Bill's inventory at cost by the retail method. Round the cost ratio to the nearest whole percent.
5. On January 1, Font Company had inventory costing $65,000 and during January had net purchases of $118,000. Over recent years, Font's gross profit has averaged 45% on sales. Given that the company has net sales of $190,000, calculate the estimated cost of ending inventory using the gross profit method.

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