Click here to exit full screen mode. Part 11 of 22 - Question 11 Question Pro Question 11 of 22 3 Points Extraordinary Shoes (ES) is a business that manufactures and sells shoes with a year-end of 31 December. The business uses the perpetual recording system and the FIFO cost allocation method for inventory. You have been provided with the following information with respect to inventory for the month of December 2020: Date Purchase/sales Cost per unit 1 December 2020 Opening balance R35 Units 40 5 December 2020 Credit purchase ? R40 13 December 2020 Sales @ R540 per item (130) ? 15 December 2020 Cash purchase 37 R30 31 December 2020 Theoretical closing balance 51 ? 2 31 December 2020 Inventory on hand at physical inventory count ? ? 31 December 2020 Units lost/stolen (5) ? Which of the following options correctly reflect the inventory closing balance and the cost of sales expense for the month of December 2020? O A. Inventory: R1 879 Cost of Sales expense: R5 000 O B. Inventory: R1 879 Cost of Sales expense: R5 200 O C. Inventory: R1 470 Cost of Sales expense: R5 000 OD. Inventory: R1 879 Cost of Sales expense: R4 791 E. Inventory: R1 470 Cost of Sales expense: R5 200 Reset Selection