Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2018, with an inventory of $265,000.

Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows:

Year Ended Ending Inventory Cost Index

December 31 at Year-End Costs (Relative to Base Year)

2018 $ 336,600 1.02

2019 427,350 1.11

2020 405,000 1.08

2021 395,200 1.04

Calculate inventory amounts at the end of each year.

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.

Describe a real or made-up but possible example of a situation where an employee faces a conflict of interest. explain at least two things the company could do to make sure the employee won't be tempted into unethical behavior by that conflict of interest. (3.0 points)

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