Polo publishers purchased a multi-color offset press with terms of $25,000 to be paid at the date of purchase, and a noninterest-bearing note requiring payment of $10,000 at the end of each year for three years. the interest rate implicit in the purchase contract is 11%. polo would record the asset at:

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is: