C Question 6 The following units of an inventory item were available for sale during the year Beginning inventory 10 units at $55 First purchase 25 units at $60 Second purchase 30 units at $65 Third purchase 15 units at $70 The firm uses the periodic FIFO Inventory system. During the year, 60 units of the item were sold What is the amount of ending Inventory O $1.250 O $1.350 O $1,375 O 1.150 Question 7 Which inventory method is going to yield the highest net income in a period of rising costs? Question 6 The following units of an inventory item were available for sale during the year Beginning inventory 10 units at 555 First purchase 25 units at $60 Second purchase 30 units at $65 Third purchase 15 units at $70 The firm uses the periodic FIFO inventory system. During the year, 60 units of the item were sold What is the amount of ending inventory O $1,250 O $1,350 O $1,375 O 1.150 Question 7 Question 6 The following units of an inventory item were available for sale during the year. Beginning inventory 10 units at $55 First purchase 25 units at $60 Second purchase 30 units at $65 Third purchase The firm uses the periodic FIFO inventory tem. During the year, 60 units of the itern were sold. What is the amount of ending inventory. 15 units at $70 O $1,250 O $1,350 $1,375 O 1,150 U Question 7 Question 5 Addison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of September Sep. 1 Inventory 20 units at $20 4 Sold 10 units 10 Purchased 30 units at $25 17 Sold 20 units 30 Purchased 10 units at $30 Addison uses FIFO, the cost of the ending merchandise inventory on September 30 is $800 O $650 $750 O $700 Question 6 Question 8 The following lots of a particular commodity were available for sale during the year: Beginning inventory 5 units at $61 First purchase 15 units at $63 Second purchase 10 units at $74 Third purchase 10 units at $77 There are 20 units of the commodity on hand at the end of the year. What is the amount of cost of merchandise sold for the year according to the average cost method? O $1.250 O $1,375 $1,380 O $1,400 Question 9