1)

Aday's Fine Foods has the following inventory and purchasing records from the past month:

Date	Activity	Cases	Cost Per Case
1.1	Opening Inventory	40	$ 12.00
1.6	Purchase	2	$ 12.50
1.12	Purchase	60	$ 14.00
1.22	Purchase	30	$ 13.00
1.27	Purchase	15	$ 11.50

Closing Inventory: 50 cases

Using the information above, solve the following:

Which inventory valuation method would give the highest gross profit?

Select one:

a. LIFO

b. FIFO

c. WAPP

d. LPP

2)

Aday's Bar has the following inventory and purchasing records from the past month:

Date	Activity	Cases	Cost Per Case
1.1	Opening Inventory	85	$ 4.25
1.6	Purchase	250	$ 6.75
1.12	Purchase	400	$ 4.75
1.22	Purchase	320	$ 5.25
1.27	Purchase	200	$ 5.00
1.31	Purchase	400	$ 4.75

Closing Inventory: 450 cases

Using the information above, solve the following:

What is the closing inventory value using the Latest Purchase Price method?

Select one:

a. $2,137.50

b. $758.95

c. $653.45

d. $456.76

3)

Aday's Bar has the following inventory and purchasing records from the past month:

Date	Activity	Cases	Cost Per Case
1.1	Opening Inventory	85	$ 4.25
1.6	Purchase	250	$ 6.75
1.12	Purchase	400	$ 4.75
1.22	Purchase	320	$ 5.25
1.27	Purchase	200	$ 5.00
1.31	Purchase	400	$ 4.75

Closing Inventory: 450 cases

Using the information above, solve the following:

What is the closing inventory value using the Weighted Average Purchase Price method?

Select one:

a. $2,319.00

b. $758.95

c. $653.45

d. $456.76