Mike has a three-year lease on the apartment he occupies. he has lived there one year. he now wants to leave and go to aspen, colorado to be a ski instructor. however, mike's landlord will not release him from the lease, and threatens to sue him if he breaks his lease. mike finds paul to take over the last two years of the lease, but mike is worried that paul might cause damage or in other ways inflict loss and that he, mike, might be held financially responsible. in order to assure mike that he will be completely discharged from all obligations under his lease, mike should attempt to bring about: neither an assignment nor a novation—both will not accomplish mike's objective. a novation. either an assignment or novation—it will not affect mike's future liability. an assignment.

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?