#23,30,40

. contains a separate record (units and COSS) for each separate product D. A and B E. A, B and C 23. Which inventory valuation method assigns a value to the inventory on the balance sheet that approximates current cost and also mimics the actual flow of goods for most businesses? A. FIFO B. Weighted average C. LIFO D. Specific identification E. All of the above 30. A company had the following purchases during the current year: January10 units at $120 February 20 units at S130 May September 12 units at $150 Novem 15 units at $140 110 unitsat,$160 On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from February, 6 from May, 4 from September and 10 from November. Using the specific identification method, what is the cost of the ending inventory? A. $3,500 B. $3,800 C. $3,960 D. $3,280 E $3,640 40. An income statement account that is used to record cash overages and cash shortages arising from omittec petty cash receipts and from errors in making change is titled the: A. Cash Lost account B. Bank Reconciliation account C. Petty Cash account D. Cash Over and Short account E. Cash Receivable account