1. ABC ended the year with inventory of 819,000. During the year, the firm purchased 5,118,000 of new inventory and the cost of goods sold reported on the income statement was 5,168,000. What was ABC's inventory at the beginning of the year?
2. Mike and Cindy are buying a new car, but they are on a budget. The think that they can afford to pay $558 per month for 3 years, based on an annual interest rate of 5.7 percent. How much can they afford to borrow, given this information? (Show your answer to the nearest dollar)