18) Given the following information determine the cost of the inventory at June 30 using the upewa/ LIFO inventory method. 15 units at $20 each June 1 June 15 June 29 Beginning inventory Sale of 6 units for $50 each Purchase 8 units at $25 each The cost of the ending inventory is: A) $300 B) $200 C) $220 D) $275 E) S380 19) Which of the following is no one of the policies and procedures that make up an internal control system? A) Guarantee a return to investors. B) Protect assets. C) Urge adherence to company policies. D) Promote efficient operations. E) Ensure reliable accounting. 20) The principles of internal control include: A) Separate recordkeeping from custody of assets. B) Maintain minimal records. C) Bond all employees. D) Require automated sales systems. E) Use only computerized systems. 21) Principles of internal control include all of the following except: A) Apply technological controls. B) Maintaining security by having one person track and record assets. C) Separate recordkeeping from custody of assets. D) Divide responsibilities for related transactions. E) Perform regular and independent reviews. 22) A properly designed internal control system: A) Eliminates the need for an audit. B) Is not necessary if the company uses a computerized system. C) Insures profitable operations. D) Requires the use of non-computerized systems. E) Lowers the company's risk of loss