25. Ramiro Co. has valued its beginning and ending inventories at $4,000 and $5,000, respectively, during a period where purchases totaled $150,000. An auditor found errors in the ending inventory...

25.
Ramiro Co. has valued its beginning and ending inventories at $4,000 and $5,000, respectively, during a period where purchases totaled $150,000. An auditor found errors in the ending inventory valuation and insisted that it be restated to $6,000. Calculate the adjusted cost of goods sold resulting from the inventory restatement.

26.Morrie Produce began operations on July 1. Below is its income statement for the month of July and the current portion of its balance sheet dated July 31.

27.
Mamma’s Cafe assigned the following costs to inventory on December 31: