1. The following information was available from the inventory records of Swifty Corporation for January:

				Units				Unit Cost			Total Cost
Balance at January 1					9000				$9.10			$81900
	Purchases:
		January 6			6000				10.30			61800
		January 26			7000				10.70			74900
	Sales
		January 7			(6000	)
		January 31			(12000	)
Balance at January 31					4000

Assuming that Swifty maintains perpetual inventory records, what should be the cost of goods sold at January 31, using the moving-average inventory method, rounded to the nearest dollar? A. $189,836 B. $178,320 C. $159,744 D. $40,280 2. Transactions for the month of June were:

Purchases					Sales
June 1		(balance) 3150 @	$3.30		June 2		2480
3		8730 @	3.20		6		6390
7		4820 @	3.40		9		4000
15		7130 @	3.50		10		1520
22		2080 @	3.60		18		5590
					25		830

Assuming that perpetual inventory records are kept in dollars, the COGS on a LIFO basis is

A. $69,813 B. $68,058 C. $67,349 D. $67,251 3. Sheffield Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2016. Its inventory at that date was $1,120,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows:

Date		Inventory at Current Prices			Current Price Index
December 31, 2017			$1,293,630			107
December 31, 2018			1,413,350			115
December 31, 2019			1,590,000			125

What is the cost of the ending inventory at December 31, 2019 under dollar-value LIFO? A. $1,209,000 B. $1,293,630 C. $1,198,400 D. $1,291,980