29. Assuming the company uses the periodic inventory method and LIFO cost flow, cost of goods sold reported on the current year's income statement would be a. $473.00. b. $704.00. c. $455.00 d. $467.50. a. 30. Using the weighted average inventory cost flow method, the average unit cost would be (rounded to the nearest penny), $2.15. b. $2.07. c. $2.12. d. $2.09. 31. The following information was drawn from the accounts of Forward Corporation which uses the periodic inventory system. Prepare a Schedule of Cost of Goods Sold and a multi-step Income Statement on the forms provided for the current year. Advertising Expense Beginning Inventory Ending Inventory Purchases Purchase Returns & Allowances Salaries Expense Sales Revenue Sales Returns & Allowances Transportation In Transportation Out $300 50 65 600 70 265 2,900 300 25 35 29. Assuming the company uses the periodic inventory method and LIFO cost flow, cost of goods sold reported on the current year's income statement would be a. $473.00. b. $704.00. c. $455.00 d. $467.50. a. 30. Using the weighted average inventory cost flow method, the average unit cost would be (rounded to the nearest penny), $2.15. b. $2.07. c. $2.12. d. $2.09. 31. The following information was drawn from the accounts of Forward Corporation which uses the periodic inventory system. Prepare a Schedule of Cost of Goods Sold and a multi-step Income Statement on the forms provided for the current year. Advertising Expense Beginning Inventory Ending Inventory Purchases Purchase Returns & Allowances Salaries Expense Sales Revenue Sales Returns & Allowances Transportation In Transportation Out $300 50 65 600 70 265 2,900 300 25 35