1 point Waimart is a merchandising company that uses the periodic inventory system. Selected account balances are listed below: What is the amount of Walmart's net purchases? $68,000$75,000$63,000$69,000$70,000 1 point: Costco Wholesale began the month of April with 30 units of inventory costing $10 per unit on hand. During Agril, the following inventory purchases were made: During Aprit, Costco sold 110 units of its product at $20 per unit. Determine the value of Cost of Goods Sold usine the Average Cost Method of inventory valuation. $1.445$2.200$1.178$1.325$1.359 1 point Adi Company's beginning inventory on January 1,2023 consisted of 1,000 units costing $1.50 per unit. Purchases for the year ending December 31,2023 were as follows: Sales during the period consisted of 8,200 units at aselling price of $4.25 per unit. Assuming the use of the FIFO inventory costing method, the ending laventory would be: $22.600 $20,750 $19.850 $17,350 $12.250 1 point Determine whether FIFO, LIFO, or both are described in the below statements. Emphasizes the balance sheet, in that more recent costs are contained in the inventory account. If used for tax purposes, this method must be used for financial statement purposes. One advantage is that this method will match current costs against current revenue on the Income statement. BOTH, FIFO, LIFO FIFO, LIFO, LIFO LIFO, LIFO, LIFO FIFO, BOTH, FIFO FIFO, FIFO, FIFO Using the following data, compute inventory turnover: Determine the Inventory Turnover Ratio: 10.71 8.75 14.13 9.33 9.03