D Question 1 1.1 pts How should goods being held on consignment be treated in inventory counts? The consignee must report these items in its inventory until sold. The consignor must report these items in its inventory until sold. Goods held on consignment are not reported in inventory by either the consignee or the consignor. Both the consignor and consignee must report goods held on consignment in the inventory. None of the above. Question 2 1.2 pts Beginning inventory 10 units @ $10 per unit First purchase 35 units @ $11 per unit First sale 20 units Second purchase 40 units @ $12 per unit Second sale 35 units Third purchase 15 units @ $13 per unit What is the value of the ending inventory using a periodic inventory system with the LIFO costing method? D Question 2 1.2 pts Beginning inventory 10 units @ $10 per unit First purchase 35 units @ $11 per unit First sale 20 units Second purchase 40 units @ $12 per unit Second sale 35 units Third purchase 15 units @ $13 per unit What is the value of the ending inventory using a periodic inventory system with the LIFO costing method? O $485 O $555 O $520 O $540 None of the above Question 3 1.1 pts Beginning inventory 10 units @ $10 per unit First purchase 35 units @ $11 per unit First sale 20 units Second purchase 40 units @ $12 per unit Second sale 35 units Third purchase 15 units @ $13 per unit What is the value of cost of goods sold using a periodic inventory system with the FIFO costing method? O $395 $675 $555 $605 None of the above