ACCT 201 29-October-Inventory Questions for Practice 1. Use the following information to answer q uestion 1a, b & c. A company has inventory of 10 units costing $7 each on June 1". On sold 22 units in June. June 23M it purchased 20 units at $10 each, and on June 30h it purchased 15 units at $12 each. The company Date Total No. Units Unit Cost bu 1a. Using LIFO determine the cost of the 22 units sold (show your calculations)O 7-^3 7@110. ceos 170 Answer: The CGS is $.. 5 1b. Using FIFO determine the cost of the 22 units sold (show your calculations) Answer: The CGs is $ L a2. 1c. Using Weighted Average determine the value of ending inventory (show your calculations) Answer: The value of ending inventory is $....................- 2. BEC Co. uses the weighted-aver age method to account for inventory. BEC's inventory on Nov 1t was 100 units at $20 each. 9h 50 units at $23 each; Nov 28 So During Nov. BEC made the following purchases: Nov 5 100 units at $22 each; Nov 1 units at $25 each. BEC sold 200 units during November. Determine the value of the ending inventory A $2,000. B. $2,200. C. $2,250 D. $2,400. E. $4,400