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18) Samson Company had the following balances and transactions during 2019: Beginning Merchandise Inventory 20 units at $94 March 10 Sold 17 units Purchased 60

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18) Samson Company had the following balances and transactions during 2019: Beginning Merchandise Inventory 20 units at $94 March 10 Sold 17 units Purchased 60 units at $100 June 10 October 30 Sold 54 units What is the balance of the company's Merchandise Inventory, as disclosed in the December 31, 2019 balance sheet as per the periodic FIFO inventory costing method? A) $564 C) $1,880 B) $600 D) $900 Apr. 1 19) The periodic inventory records of Hawk Dental Supply indicate the following for the month of April: Beginning merchandise inventory 15 units @ $32 each 7 Purchase 7 units @ $34 each 18 Purchase 12 units @ $37 each 26 Purchase 10 units @ $40 each As of April 30, Hawk counts 8 units of merchandise inventory on hand, Compute ending merchandise inventory and cost of goods sold, respectfully, for Hawk using the FIFO inventory method. E) none of the above A) 5340; $1,352 B) 5320; $1.242 C) $1,352; $340 D) $1,242; $320 3 20) The periodic inventory records of Northstar Sales indicate the following for the month of April Apr. 1 Beginning merchandise inventory 15 units @ $32 each 7 Purchase 7 units @ $34 each 18 Purchase 12 units @ $37 each 26 Purchase 10 units @ $40 each As of April 30, Northstar counts 8 units of merchandise inventory on hand. Compute cost of goods sold for Northstar using the LIFO inventory method. A) $1,562 C) $1,306 B) $256 D) None of the above 21) A company uses the weighted-average method of inventory valuation under a periodic inventory system. The company began the year with a zero inventory balance. They had the following transactions during the year. 1. Purchased 65 units at $6 per unit 3. Purchased 60 units at $7 per unit 2. Purchased 130 units at $6 per unit 4. Sold 110 units at $13.25 per unit 5. Sold 110 units at $12 per unit

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