11. (FIFO) Assume for this question only that the cost of sales is $240,000. In that case, the inventory turnover ratio for 2020 would equal:

A. 3.33

B. 2.45

C. 3.53

D. 43.63

E. None of the other ratios.

12. (WAC) The average cost per unit of the 10,000 units sold on June 15 is:

A. $10 B. $9.33 C. $8.50 D. $8.73

Use the following information to answers questions 8 to 14: Whitby Inc. is a wholesaler that uses a perpetual inventory system. The company's accounting records provided the following transactions for Product B during the fiscal year ended on December 31, 2020. $9 Date Transactions Units Unit Cost Sale Price March 5 Purchase 19,000 June 15 Sale 10,000 $27 September 19 Purchase 8,000 11 November 20 Sale 16,000 30 Additional information: The beginning inventory consisted of 7,000 units at a total cost of $56,000. All sales are made on account with credit terms, 2/10, 1/30. Customers who purchased 10,000 units on November 20 paid the amount due within the discount period. All other customers paid their accounts receivable after the discount period. At the start of each question below, we indicate whether the First-in, First-out (FIFO) method or the Weighted Average Cost (WAC) method is used