18. LiCo uses the periodic method and weighted-average costing. On December 31, 20X7, LiCo's inventory consists of 1,800 units costing $5 each. In January, 20X8, LiCo purchases 4,000 units @ $9, of which it returns 700 units in March. It purchases 4,400 units in October @ $7, of which it returns 500 units in December. The weighted-average cost per unit of goods available for sale during 20X8 is . . . a. $7.92 b. $7.33 c. $6.47 d. $6.79 19. TuCo begins operations in 20X1 and uses the perpetual method and moving average costing. On January 4, TuCo buys 1,200 units of merchandise @ $3. On January 8, it sells 300 units. On January 11, it buys 1,100 units @ $4, and on January 30, it sells 600 units. On January 30, what does TuCo record as the cost of goods sold? a. $2,430 b. $2,130 c. $2,400 d. $1,800 20. XoCo, which begins business in May and uses the perpetual method and moving average costing, shows the following data: Purchases Sales May 4 1,000 @ $ 7 May 11 400 @ $11 May 14 1,400 @ $ 8 May 19 2,000 @ $10 May 21 1,500 @ $15 The balance in XoCo's inventory account on May 31 is . . . a. $22,125 b. $20,833 c. $21,705 d. $23,875 21. MaCo begins operations in 20X1 and uses the periodic method and FIFO costing. In March, 20X1, MaCo buys 700 units @ $4; in July, it buys 2,700 units @ $6, and in November, it buys 1,600 units @ $8. The cost of the 1,900 units in MaCo's December 31 ending inventory is . . . a. $10,000 b. $15,200 c. $14,600 d. $7,600