The Swivel Chair Company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 147,000 chairs. During the month, the firm completed 180,000 chairs and transferred them to the Finishing Department. The firm ended the month with 21,000 chairs in ending inventory. All direct materials costs are added at the beginning of the production cycle. Conversion costs are incurred uniformly over the production cycle. How many chairs were in inventory at the beginning of the month

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.