4. A company had 2,000 units in beginning inventory that cost $10 per unit. On June 1, 2,000 units were purchased at a cost of $12 per unit. On September I, another 2,000 units were purchased at a cost of $14 per unit. If the company sold 3,000 units during the year, the company will report what amount of cost of goods sold from List A under what method of inventory valuation from List B? List B (a) $40,000 FIFO (b) $32,000 LIFO (c) $36,000 LIFO (d) $36,000 Weighted average When a company uses a periodic inventory system with a weighted average cost flow assumption, the beginning inventory would be: (a) Net purchases minus cost of goods sold. (b) Total goods available for sale minus cost of goods sold. (c) Net purchases minus ending inventory (d) Total goods available for sale minus net purchases. 5. 6. The followving information is available for a company for fiscal year 20x5. COMPANY INFORMATION AVAILABLE FOR CALCULATING COST OF GOODS AVAILABLE FOR SALE FOR FISCAL YEAR 20x5 Freight In Purchase Returns Selling Expenses Ending Inventory 60,000 150,000 300,000 520,000 The cost ofgoods sold for the company is equal to 300% of selling expenses. What is the company's cost of goods available for sale? (a) $1,420,000. (b) $1,480,000. (c) $1,330,000 (d) S 900,000