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9 ABC Company uses a periodic inventory system and has the following units and costs: Units Unit Costs Total Costs tof March 1 Beginning 8,000
9 ABC Company uses a periodic inventory system and has the following units and costs: Units Unit Costs Total Costs tof March 1 Beginning 8,000 $11 $88,000 estion Inventory July 18 Purchases 13,000 $12 $156,000 October 7 Purchases 5,000 $13 $65,000 26,000 $309,000 If 9,000 units are on hand at Dec. 31, what is the cost of the ending inventory using FIFO? a. $113,000 O b. $196,000 O c. $209,000 his O d. $100,000 en 28 5 ed On Jan. 01, ABC Company received its property tax assesment in the amount of $12,000 for the year. The property tax bill was paid in full on May 01. If the company prepares quarterly financial statements, how much pre paid property tax should the company report at the end of their second quarter at June 30? out of question O a. $4,000 O b. $12,000 OC. $6,000 O d. $8,000
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