The inventory data for an item for November are: 1. Nov. 1: Inventory 20 units at $19

2. Nov. 10: Purchased 30 units at $20

3. Nov. 4: Sold 10 units

4. Nov. 17: Sold 20 units

5. Nov. 30: Purchased 10 units at $21

Using a perpetual system, what is the cost of the merchandise sold for November if the company uses LIFO?

a. $610

b. $600

c. $590

d. $580

When making broccoli cream soup, the broccoli and aromatics should be a. burned. b. simmered. c. puréed. d. sweated.

Which of the following tends to result in a decrease in the selling price of houses in an area? a. an increase in the population of the city or town. b. an increase in the labor costs of construction. c. an increase in the income of new residents in the city or town. d. an increase in mortgage interest rates.

James jones is the owner of a small retail business operated as a sole proprietorship. during 2017, his business recorded the following items of income and expense: revenue from inventory sales $ 147,000 cost of goods sold 33,500 business license tax 2,400 rent on retail space 42,000 supplies 15,000 wages paid to employees 22,000 payroll taxes 1,700 utilities 3,600 compute taxable income attributable to the sole proprietorship by completing schedule c to be included in james’s 2017 form 1040. compute self-employment tax payable on the earnings of james’s sole proprietorship by completing a 2017 schedule se, form 1040. assume your answers to parts a and b are the same for 2018. further assume that james's business is not a service business, and that it has $155,000 unadjusted basis in tangible depreciable property. calculate james's 2018 section 199a deduction.