Accounting Paper

Hello, pick ONE of these questions and write a 350-500 word paper on this.

1. Calculate the ending inventory under each of the following methods given the information below    about purchases and sales during the year. Assume a periodic inventory system.
April   1  Beginning inventory 20 units @ $30

         11  Purchases             70 units @ $32

         21  Purchases             50 units @ $35

Sales for April: 115 units
a. ________ FIFO

b. ________ LIFO

c. ________ Weighted-average

2. Rockwell Industries purchased a plant asset to be used in its business. The expenditures included:
Cost of machine                                                        $8,000

Special concrete base to support machine               $500

Freight charges                                                         $1,000

Repair cost of damage incurred during installation   $300
   

The Machine account will be debited for ________.

3. List and discuss the following:
a. Rights of common stockholders

b. Rights of preferred stockholders