The units of an item available for sale during the year were as follows:

january 11 inventory 60 units @ $145

february 27 purchase 90 units @ $150

november 21 purchase 75 units @ $154

there are 48 units of the item in the physical inventory at december 31. the periodic inventory system is used.

determine the inventory cost by

(a) the first-in, first-out method,

(b) the last-in, first-out method, and

(c) the average cost method.

On december 31, 2016, the decarreau, andrew, and bui partnership had the following fiscal year-end balance sheet: cash $10,000accounts receivable $20,000inventory $25,000plant assets - net $30,000loan to decarreau $18,000total assets $103,000accounts payable $14,000loan from bui $15,000decarreaua, capital (20%) $32,000andrew, capital (10%) $23,000bui, capital (70%) $19,000total liab./equity $103,000the percentages shown are the residual profit and loss sharing ratios. the partners dissolved the partnership on january 1, 2017, and began the liquidation process. during july the following events occurred: * receivables of $18,000 were collected.* all inventory was sold for $15,000.*all available cash was distributed on january 31, except for$8,000 that was set aside for contingent expenses.the book value of the partnership equity (i.e., total equity of the partners) on december 31, 2016 isa. $58,000b. $71,000c. $66,000d. $81,000