A company just starting business made the following four inventory purchases in June cases in June: $ 390 June June June June 1 10 15 28 150 units 200 units 200 units 150 units 598 630 510 $2.128 that there are 200 units on hand. The inventory A physical count of merchandise inventory method which results in the highest gross profit for June is the FIFO method b. the LIFO method. c. the weighted average unit cost method. d. not determinable. 9.Pasquale has the following inventory information. July 1 Beginning Inventory 20 units at $19 $300 Purchases 70 units at $20 1,400 Purchases 10 units at $24 240 $2,020 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is a $1,380. b. $1,414 c. $1.470 d $1.440. 10.Barley Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCNRV) basis in valuing inventories: Product Cost Net Realizable Value $115,000 $120,000 80,000 158,000 73,000 162,000 If Barley applies the LCNRV basis, the value of the inventory reported on the balance sheet would be a. $346,000 b. $353,000 c. $355,000. d. $362,000. 11.Dulzura Company had beginning inventory of $60,000, ending inventory of $90,000, cost of goods sold of $600,000, and sales of $960,000. Dulzura's days in inventory is