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Big Co. sells apples. At the start of the period, Big |Co's inventory:r consisted of one {1} red apple with a carrying amount of P2.

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Big Co. sells apples. At the start of the period, Big |Co's inventory:r consisted of one {1} red apple with a carrying amount of P2. During the period, Big Co. acquired one [1} green apple for P3 and one {1} blue apple for P4. Big Co. sold the green apple during the period. Falseo. Under the FIFE!l cost formula, Big Co's ending inventory is PB. True Ir'. Under the FIFO cost formula, Big Co's cost of goods sold for the period is P3. false True 8. Under the Average cost formula, Big |Co.'s ending inventorv is P3. false Falseg. Under the Average cost formula, Big |Co.'s cost of goods sold is P3. false False 10. Under the Specic Identication cost formula, Big Co.' cost of goods sold is P3. true

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