26. MiCo open s for business in 20X3 and uses the periodic method and ecember 31, 20x3, there are 900 units of merchandise irn purchases are as LIFO liCo's inventory $11. MiCo's 20X4 merchandise p follows: ebruary 4 1,200 $14 March 10 2,000 $15 3,300 @ $18 October 21 ,200 $20 July 7 If MiCo's December 31, 20x4 physical count shows 1,500 units in ending inventor ry, then ending inventory on MiCo's balance sheet will be... d. $21,900 c. $18,300 a,$21,300 b. $30,000 27. CuCo, which begins business in 20x8, uses the periodic method and LIFO costing. CuCo's 20X8 merchandise purchases are as follows: January 3 2,200@ $5 1,800 $8 April 16 September 25 3,000$6 December 4 1,100 $9 If CuCo's December 31, 20X8 ending inventory is 300 units, its 20X8 cost of goods sold is... d. $52,100 c. $49,900 b. $50,600 a. $51,800 KoCo begins operations in 20X1 and uses the periodic method. In March, 20X1, KoCo buys 700 units@ $4; in July, it buys 2,700 units @ $6; and in November, it buys 1,600 units $8. Using LIFO, what is the cost of the 1,900 units in ending inventory? 28. d. $7,600 c. $14,600 b. $15,200 a. $10,000 astering Inventory 29. SiCo begins operations in 20X2 and uses the periodic method. SiCo's December 31, 20X2 ending inventory consists of 400 units bought in January, 20x2 $11. Its December 31, 20X3 ending inventory consists of 1,300 units. During January, 20x3, SiCo buys 1,800 units $14; in July, uys 2,200 units @ $17; and in October, it buys 2,300 units $13. If SiCo uses LIFO, its 20X3 costs of goods sold is.. d. $78,700 c. $80,800 b. $79,900 a. $80,000 Use the folloving information for problems #30-33. egins operations in 20X4 and uses the periodic method and LIFO costing. Its merchandise purchases are as follows: 20x6 20x5 20X4 600$ 8 900$12 100$ 9 700$10 900 $11 March 300$4 500$5 July 600@ $14 700 $13 September 200@ $7 November 100 @ $16 400 $6 30. If LuCo sells 900 units in 20X4, its December 31, 20X4 ending inventory of 500 units is... a. $2,000 b. $3,000 c. $2,200 d. $3,100 If, instead, LuCo's has 200 units in its December 31, 20X4 ending inventory and 500 units in its December 31, 20X5 ending inventory, then its December 31, 20X5 inventory is.. 31. a. $3,200 b. $4,000 c. $5,000 d. $2,200 Assume, instead, that LuCo's December 31, 20X4 ending inventory is 300 units; its December 31, 20X5 ending inventory is 200 units (which is lower than it 20X5 beginning inventory); and its December 31, 20x6 ending inventory is 700 units. What is LuCo's December 31, 20X6 inventory? 32. a. $7,700 b. $4,400 c. $5,600 d. $6,300
