10. June Corp. sells one product and uses a perpetual inventory system. The beginning inventory consisted of 10 units that cost $213 per unit. Duling the current month.J the company purchased 61'} units at $2!) each. Sales during the month totaled 45 units for $43 each. What is the cost of goods sold using the FIFO method?r A. $200 B. $900 (3. $1,200 I). $1,696 11. LCNRV {=Lower of Cost or Net Realizable Value) of inventory A. is always either the net realizable value or its cost. B. should always be equal to net realizable value. C. may sometimes be less than net realizable value. D. should always be equal to net realizable value less costs to complete. 12. The following information is available for October for Barton llljompany. Beginning inventory $ Sl} Net purchases 1513,0533 Net sales 3D,UUU Percentage markup on cost 65.67% A fire destroyed Barton's October 31 inventory= leaving undamaged inventory with a cost of $3,UUU. Using the gross prot method, the estimated ending inventory destroyed by re is A. $17,000 B. $71,000 C. $80.000