9. Reeves Company is taking a physical inventory on March 31 , the last day of its fiscal year. Which of the following must be included in this inventory count? a. Goods in transit to Reeves, FOB destination b. Goods that Reeves is holding on consignment for Parker Company c. Goods in transit that Reeves has sold to Smith Company, FOB shipping point d. Goods that Reeves is holding in inventory on March 31 for which the related Accounts Payable is 15 days past due 10. The LIFO inventory method assumes that the cost of the latest units purchased is a. the last to be allocated to cost of goods sold. b. the first to be allocated to ending inventory. c. the first to be allocated to cost of goods sold. d. not allocated to cost of goods sold or ending inventory. 11. A company purchased inventory as follows: 200 units at $6.00 300 units at $6.60 The average unit cost for inventory is a. $6.00. b. $6.30. c. $6.36. d. $6.60