31. Cineo Enserprises has the following Unit Unit Cost for Sale 1 eginning Balance 300$ 3o s 5,400 4,900 5/s Purchase Purchase 350 If Ciaco Enterpvise has 50 units on hand at December 31., the cost of the ending invemory under the periodic LIFO method is a. $450 b. $600 c.$550 d. $500 32 St. Jago Textiles decides to sell $800,140 of its accounts reccivable to Premiere Factors Inc. who assesses a service charge of 3% or the amount of receivables sold. what is the cash amount Premier Factor Inc. will pay St. Jago Textiles? a $777,354 b. $776,136 c $797.114 d. $780,178 33. FOB Destination means the buyer pays the freight 34. Which of the following should NOT be included in the physical inventory of a company a. Goods held on consignment from another company b. Goods shipped on consignment to another company c. Goods in transit from another company shipped FOB shipping point d. None of the answer choices are correct 35. Which Internal Control procedure requires management to establish policies and procedures to reduce the occurrence of fraud a. Risk assessment b. Control Activities c. Monitoring d. A Control Environment PAGE 6 ACCOUNTING 101 SPRING 2018