1.Use the following information for the month of May: Assuming that a Moving Average perpetual inventory system is used, what is Cost of Goods Sold?

Select one:

a. $1,880

b. $763

c. $700

d. $680

e. $1,920

2.

.Using the FIFO periodic inventory system, what is Ending Inventory?

Select one:

a. $1,880

b. $1,980

c. $1,830

d. $1,760

e. $1,900

May 1 Beginning inventory 7 Purchases 18 Sales 22 Purchases 29 Sales 20 units @ $16 70 units @ $20 25 units 40 units @ $22 10 units May 1 Beginning inventory 7 Purchases 18 Sales 22 Purchases 29 Sales 20 units @ $16 70 units @ $20 25 units 40 units @ $22 10 units