A company iust startind its business made the following four inventory purchases in June: On June 25, the company made its first sale when a local customer purchased 500 units for $3,500. The company uses a perpetual inventory system. Using the FIFO cost formula, the cost of the ending inventory on June 30 is 5645 9695 $1,650 $1,700 Use the following information to answer questions 88-92. What is the total amount of working capital? $4,000$8,000$10,000$14,000 A company just starting its business made the following four inventory purchases in June On June 25 , the company made its first sale when a local customer purchased 500 units for $3,500. The company uses a perpetual inventory system. Using the average cost formula, the cost of the ending inventory on June 30 is $670.00 $69050 $1,645.55 $1,675,00 ABC inc : uses the FIFO cost formula in a perpetual inventorv svstem. The cost of goods soid for the July 8 sale was $950 $980. $989 $1,000 ABC inc : uses the FIFO cost formula in a perpetual inventorv svstem. The cost of goods soid for the July 8 sale was $950 $980. $989 $1,000 A company iust startind its business made the following four inventory purchases in June: On June 25, the company made its first sale when a local customer purchased 500 units for $3,500. The company uses a perpetual inventory system. Using the FIFO cost formula, the cost of the ending inventory on June 30 is 5645 9695 $1,650 $1,700 vvnat is the current ratio? 2.3:12.0:10.6:10.4:1 Anderson's Used Cars uses the specific identification formule of costing inventory. During March, Anderson purchased three cars: a Honda Civic for S6 200, a Chevy Malibu for \$7,300, and a Ford Pinto \$8,400, respectively. During March, two cars are sold for $8,600 each. Anderson determines that at March 31 , the Ford Pinto is still on hand. What is Anderson's cost of goods soid for March? $8,400 $13,500 $15,700 $17,200 QUESTION 46 XYZ inc uses the average cost formula in a perpetual inventory system. (Use unrourved numbers in your calculations but round to the nearest cent for presentation purposes in your answer.) Jun 1 Beginning inventory 20 units it $1900 per unit Jun 5 Purchase 100 units \& $22.00 per unit Jun 8 Sale 70 units Jun 9 Purchase B0 units o 22.31 per unit Jun 10 Sale 25 units Jun 22 Sale 40 units If XYZ inc was using the FIFO cost formula instead of average, gross profit from the June 8 sale would be Higher Lover the same carit be defermined
