Question
1-4) A company had the following purchases and sales during itsfirst year of operations: Purchases Sales January: 10 units at $120 6 units February: 20
1-4) A company had the following purchases and sales during itsfirst year of operations:
Purchases | Sales | |
January: | 10 units at $120 | 6 units |
February: | 20 units at $125 | 5 units |
May: | 15 units at $130 | 9 units |
September: | 12 units at $135 | 8 units |
November | 10 units at $140 | 13 units |
On December 31, there were 26 units remaining in endinginventory. Using the PERPETUAL LIFO inventoryvaluation method, what is the cost of the ending inventory? (Assumeall sales were made on the last day of the month.)
A) $3,405
B)$3,270
C)$3,364
D)$5,400
On December 31, there were 26 units remaining in endinginventory. Using the PERIODIC LIFO inventoryvaluation method, what is the cost of the ending inventory? (Assumeall sales were made on the last day of the month.)
A)$3,405
B)$3,270
C)$3,200
D)$3,364
E)$5,400
On December 31, there were 26 units remaining in endinginventory. Using the PERPETUAL FIFO inventoryvaluation method, what is the value of cost of goods sold? (Assumeall sales were made on the last day of the month.)
A)$8,670
B)$3,540
C)$5,400
D)$5,130
E)$3,270
On December 31, there were 26 units remaining in endinginventory. Using the PERPETUAL LIFO inventoryvaluation method, what is the value of cost of goods sold? (Assumeall sales were made on the last day of the month.)
A)$8,670
B)$5,400
C)$5,470
D)$5,130
E)$5,305
On December 31, there were 26 units remaining in endinginventory. Using the PERIODIC LIFO inventoryvaluation method, what is the value of cost of goods sold? (Assumeall sales were made on the last day of the month.)
A)$8,670
B)$5,400
C)$5,470
D)$3,200
E)$5,130
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