29. Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2012 are as follows: Units Per unit price Total Balance, 1/1/12 200 $5.00 $1,000 Purchase, 1/15/12 100 5.30 530 Purchase, 1/28/12 100 5.50 550 An end of the month (1/31/12) inventory showed that 140 units were on hand. If the company uses FIFO, what is the value of the ending inventory? A) $700 B) $728 C) $742 D) $762 30. Eneri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 5,000 $9.20 Purchases: June 18 4.500 8.00 November 8 3,000 7.00 A physical inventory on December 31 shows 2,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. What is the cost of goods available for sale? A) $84.600 B) $89,000 C) $103,000 D) $162,500 31. The balance of a control account in the general ledger A) must always be zero. B) must equal the amount of total assets. C) is always greater than the composite balance of individual accounts in a related subsidiary ledger D) must equal the composite balance of individual accounts in a related subsidiary ledger 32. A subsidiary ledger is A) used in place of the general ledger if the general ledger is destroyed or stolen. B) a group of accounts used by branches and subsidiaries of a corporate business. C) a group of accounts with a common characteristic that provides detailed information about a control account in the general ledger. used to post excess transactions if a general ledger account becomes full during an accounting period D)