Eaton Electronics uses a periodic inventory system. On march 31, Eaton has two plasma TVs on hand at a cost of $1500 each (serial number 11534892 and 11534894). In April the company purchases 4 more identical TVs from Toshiba for $1450 each (serial number 11542631 through 11542634). In May the company purchases 5 more identical TVs for $1600 each (serial numbers 11534894 and 11542631). There were no additional purchases sales during the remainder of the year. 16. Use the info above to answer the following question. Eaton electronics uses the specific identification method. What is its cost of Goods Sold? A. $3,033 B. $3,200 C. $2,950 D. $3,000 20. AAA CO. uses a periodic inventory system and has the following info, in regards to inventory: Beginning Inventory Purchases on Jan 25 Purchases on March 15 Purchases on Oct 2 Goods available for sale 200 units @ 15 300 units @ 16 200 units @ 17 400 units @ 18 $3,000 4,800 3,400 7,200 $18,400 There are 500 units in Ending Inventory. What is the amount of the ending inventory using FIFO method? A. $7,200 B. $3,000 C. $8,900 D. $7,800