A company's inventory records report the following in November of the current year: 20 Beginning November 1 Purchase November 2 Purchase November 12 4 units @ $20 11 units @ $22 7 units @ $24 2.72 points 8 01:26:18 On November 8, it sold 13 units for $50 each. Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 13 units sold? Multiple Choice $300 $400 $440 $490 $282 23 Havermill Co. establishes a $300 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $78 for Office Supplies, $147 for merchandise inventory, and $27 for miscellaneous expenses. The fund has a balance of $48. On October 1, the accountant determines that the fund should be increased by $60. The journal entry to record the establishment of the fund on September 1 is: 2.72 points Multiple Choice (8 01:26:24 Debit Cash $300; credit Petty Cash $300. 0 Debit Petty Cash $300; credit Accounts Payable $300. 0 Debit Miscellaneous Expense $300; credit Cash $300. 0 Debit Petty Cash $300; credit Cash $300. 0 Debit Cash $300; credit Accounts Payable $300. 24 Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on August 31, its Cash account shows a debit balance of $23,662. Franklin's August bank statement shows $22,637 on deposit in the bank. Determine the adjusted cash balance using the following information: 2.72 points Deposit in transit Outstanding checks Bank service fees, not yet recorded by company The bank collected on a note receivable, not yet recorded by the company $7,650 $6,000 $ 155 $ 780 (8 01:26:35 The adjusted cash balance should be: Multiple Choice $30,287 O $16,637. O $24.442 $24,442 O $23,507 O $24,287