erprises had the following inventory data On July 1, beginning inventory was 5 units thuat each cost 551 On July 4, the company purchased 10 units at a cost of $54 each On July 7, the company sold 8 units If the nearest cent and your final answer to the nearest dolar) company uses FiFO, what is COGS for the July 7 sale? (Round any intermediary calicuialtions to the A) $420 B) $417 C) $432 D) $424 16) Use the Lionworks data from question 15 If the company uses UFO, what is coGs for the Juy 7 qale? Round any ntermediary calouations to the A) 5424 B) $420 C) $432 D) $417 17) Use the Lionworks data from question 15 If the company uses average cost, what is COGS for the July 7 sale? (Round any intermediary calculations to the nearest cent and your final answer to the nearest dolar A) $420 B) $424 C) $432 D) $417 18) The process CPAs use to confirm that financial reports conform to GAAP is known as a(n) B) review. C) confirmation. D) audit 19) When a company has one person post cash receipts, and another person deliver the deposit, this is an example of A) proper authorization B) separation of duties C) internal control limitations D) restricted access. 20) Requiring a manager to sign off on purchases of $100 or more is an example of. A) proper authorization. B) internal control limitations. C) an audit trail. D) restricted access