P8-1B (Various Inventory Issues) The following independent situations relate to inventory
1. Hammer Co. purchased goods with a list price of $260,000, subject to trade discounts of 25% and
10%, with no cash discounts allowable. How much should
E8-5B (Inventoriable CostsError Adjustments) Wycliffe Company asks you to review its
31, 2014, inventory values and prepare the necessary adjustments to the books. The following
is given to you.
1. Wycliffe uses the periodic method of