43. Using the information in question 42, what is the cost of goods sold for the period ended 12/31/2018?

Select one:

a. $2,080

b. $1,870

c. $2,110

d. $1,970

44. Company uses LIFO and prices are rising, purchase more inventory near the end of the reporting period will:

Select one:

a. have no effect on the amount of cost of goods sold

b. decrease cost of goods sold

c. increase income taxes paid

d. decrease the net income

45. The following information is available for Karen Company at December 31, 2018: beginning inventory $90,000; ending inventory $80,000; cost of goods sold $1,700,000; net credit sales $2,000,000. How many days needed for Karen to sell its average inventory in 2018?

Select one:

a. 18 days

b. 20 days

c. 23 days

d. 37 days