Sunland Company just began business and made the following four inventory purchases in June: June 1 144 units $1000 June 10 192 units 1500 June 15 192 units 1610 June 28 144 units 1270 $5380 A physical count of merchandise inventory (rounded to whole dollar) on June 30 reveals that there are 200 units on hand. The inventory method which results in the highest gross profit for June is the average cost method. not determinable. the FIFO method. the LIFO method.

Ann and jack have been partners for several years. their​ firm, a​ & j tax​ preparation, has been very​ successful, as the pair agree on most​ business-related questions. one​ disagreement, however, concerns the legal form of their business. for the past two​ years, ann has tried to convince jack to incorporate. she believes that there is no downside to incorporating and sees only benefits. jack strongly​ disagrees; he thinks that the business should remain a partnership forever. ​ first, take​ ann's side, and explain the positive side to incorporating the business. ​ next, take​ jack's side, and state the advantages to remaining a partnership. ​ lastly, what information would you want if you were asked to make the decision for ann and​ jack? which of the following statements are the advantages of a partnership compared to a​ corporation? ​(choose all that​ apply.) a. less expensive to organize. b. ownership is readily transferable. c. lower income taxes. d. owners have limited liability. e. long life of firm.