CAISCO Sales Inc. had a beginning inventory of May comprising of 700 units that had a cost of $80/ unit. A summary of purchases and sales during the month of May are as follows: If CAISCO Sales Inc. uses a periodic inventory system, which of the following statements is true? Multiple Cholce None of the other alternatives are correct CAISCO Sales Inc.'s ending Inventory will be higher If LIFO Is used than if FIFO is used. CAISCO Sales Inc. must use the FIFO cost flow assumption since a perlodic inventory system is used. CAISCO Sales Inc. must use the weighted average cost flow assumption since a perpetual Inventory system is used. CAISCO Sales Inc.'s ending Inventory consists of 1,200 units regarcless of cost flow method assumed. The 123 Accounting Company sells accounting videos. The following information has been extracted from the records of 123 Accounting Co. January 1: Opening Inventory is 60 units @ $10 /each January 10: Bought 100 units @$11 each January 15: Bought 100 units @$13 each January 20: Sold 220 units 20 each January 25: Bought 40 units @$15 each If 123 Accounting uses the weighted average method of inventory and the perpetual method then the average cost of each unit charged to cost of sales when the sale is made will be: Multiple Cholce $10.63 $10 $13.27 $11.54 None of the other alternatives are correct