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Multiple Choice Question 60 A company just starting business made the following four inventory purchases in June: Number of units Date purchased Total cost June 1 110 units $ 440 June 10 210 units 580 June 15 210 units 600 June 28 190 units 550 $2170 A physical count of merchandise inventory on June 30 reveals that there are 240 units on hand. The inventory method which results in the highest gross profit for June is not determinable. the FIFO method. the LIFO method. O the weighted average unit cost method. Click if you would like to Show Work for this question: Open Show WorkMultiple Choice Question 90 Vaughn has the following inventory information. July 1 Beginning Inventory 20 units at $19 $380 7 Purchases 70 units at $20 1400 22 Purchases 15 units at $25 375 $2155 A physical count of merchandise inventory on July 31 reveals that there are 40 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is $1410. O $1340. $1325. $1375.Multiple Choice Question 86 Oriole Company's inventory records show the following data: Units Unit Cost Inventory: January 1 9700 $9.40 Purchases: June 18 9000 8.00 November 8 6300 7.00 A physical inventory on December 31 shows 4500 units on hand. Oriole sells the units for $13 each. The company has an effective tax rate of 20%. Oriole uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period? $94986 O $95680 O $101520 O $90720 Click if you would like to Show Work for this question: Open Show Work