A company's inventory records indicate the following data for the month of January:

Date	Activities	Units Acquired at Cost					Units Sold at Retail
Jan. 1	Beginning inventory	360 units @ $18	=	$	6,480
Jan. 8	Purchase	340 units @ $20	=	$	6,800
Jan. 12	Sale						600 units @ $70
Jan. 17	Purchase	400 units @ $22	=	$	8,800
Jan. 23	Sale						300 units @ $70
Jan. 28	Purchase	460 units @ $24	=	$	11,040

If the company uses the LIFO periodic inventory system, what is the value of cost of goods sold?

Multiple Choice

• $17,680.

• $18,080.

• $20,640.

• $15,040.

• $12,480.

• A company had the following purchases and sales during its first month of operations:

  Date	Activities	Units Acquired at Cost					Units Sold at Retail
  January 1	Purchase	10 units @ $4.00	=	$	40.00
  January 9	Sales						6 units @ $12.00
  January 17	Purchase	8 units @ $5.50	=	$	44.00
  January 27	Sales						7 units @ $12.00

  Using the Periodic weighted average method, what is the value of cost of goods sold? (Round weighted average cost per unit to 2 decimal places.)

  Multiple Choice

• $84.00.

• $60.71.

• $23.35.

• $46.70.

• $37.36.

• Eastview Company uses a perpetual LIFO inventory system, and has the following purchases and sales:

  Date	Activities	Units Acquired at Cost					Units Sold at Retail
  Jan. 1	Purchase	150 units @ $9	=	$	1,350
  Jan. 17	Sales						120 units sold
  Jan. 20	Purchase	160 units @ $11	=	$	1,760
  Jan. 29	Sales						150 units sold

  What is the value of cost of goods sold?

  Multiple Choice

• $2,730.

• $2,750.

• $2,670.

• A company's inventory records report the following:

  Date	Activities	Units Acquired at Cost					Units Sold at Retail
  Aug. 1	Beginning inventory	15 units @ $24	=	$	360
  Aug. 5	Purchase	10 units @ $25	=	$	250
  Aug. 12	Purchase	20 units @ $26	=	$	520
  Aug. 15	Sales						30 units sold

  Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?

  Multiple Choice

• $260

• $220

• $390

• $740

• $1,130

• $440.

• $380.