CHAPTERS 4,5&6--Page 22. Baden shoe store had a beginning merchandise inventory of s00 $2,000 ot $15, 0o0. During the period. purchases vere $60, 000, purchase return and treight in 95, 000, A phyaical count of inventory at the end of the period revealed that $10,000 was sti11 on hand. The cost o goods available for sale was a $72, 000. b. $68,000. . $78,000. d. $82,000. A company just starting business made the following four inventory purchases in June : June 1 June 10 June 15 June 28 150 units 200 unite 200 units 150 units $ 750 1,200 1,260 990 4,200 A physicai count of merchandise inventory on June 30 reveals that there are 250 units on hand. 23. Uaing the LIPO inventory method, the value ot the ending inventory on June 30 is a. $1,350. b. $1,620. c. $2,580. d. $2,850 24. Using the FIPO inventory method, the amount allocated to cost of goods sold for June is a. $1,620. b. $1,350. C. $2,580. d. $2,850. 25. Using the average coat method, the amount allocated to the ending inventory on June 30 is a. $4,200 b. $2,700. c. $1,495 d. $1,500 26. The inventory method which results in the highest gross profit for June is a. the FIFO method. b. the LIFO method c. the weighted average unit cost method. d. not determinable