12/01 Beginning Inventory 100 units @ $6/unit 12/10 Purchase 100 units @ $8/unit 12/20 Purchase 200 units @ $9/unit 12/31 Ending Inventory 250 units Assuming that a periodic inventory system is used, what is Cost of Goods Sold under the weighted average method? Select one: a $1,500 b. $1,350 c. $1,200 d. $2,000 e. $1,000 Question 23 Given the following Ending Inventory errors for the Portland Company: Not yet answered Year Points out of 2.5 Flag question 2020 Ending Inventory Error Overstated $40 Understated $30 2021 Indicate the error in the following items: Select one: 2022 Net Income 12/31/21 Retained Earnings Overstated $30 Understated $30 O b. 2022 Net Income 12/31/21 Retained Earnings Understated $30 Overstated $30 c. 2022 Net Income 12/31/21 Retained Earnings No error Overstated $70 Od 2022 Net Income 12/31/21 Retained Earnings No error No error 2022 Net Income 12/31/21 Retained Earnings No error Understated $70 At the end of the current year, the owner's equity in LaRose Corporation is $188,000. During the year, the assets of the business had decreased by $90,000, and the liabilities had increased by $36,000. Owner's equity at the beginning of the year must have been: Select one: a. $62,000 b. $314,000 c. $494,000 d. $134,000 e $126.000 Question 25 The Hawaii Company purchases a machine on 1/1/21. Details include: Not yet answered Points out of 25 Flag question Cost $80,000 Salvage value $ 4,000 Estimated life Assume Double-declining balance depreciation. Indicate the following amount: Select one: 10 years a. 12/31/22 Accumulated Depreciation $28,800 b. 12/31/22 Accumulated Depreciation $12,800 OC 12/31/22. Accumulated Depreciation $16,000 O d. 12/31/22 Accumulated Depreciation $27,360 12/31/22 Accumulated Depreciation $15,000