FINANCIAL ACCOUNTING Chapter Inventory(2 multiple choice questions) just confirming my answers plz

1)An entity has the following inventory transactions for an item of inventory: Opening Inventory 114 units @ 9 $1026

Purchase 1 215 units @ 13 $2795 Sale 1 73 units What is cost of goods sold assuming the entity uses the FIFO method? Select one: a. $657 b. $949 c. $848 d. $803

asn: A

2)McLean Co. has the following data related to an item of inventory: Inventory, March 1 106 units @ $4.2 Purchase, March 7 335 units @ $4.39 Purchase, March 16 62 units @ $4.42 Inventory, March 31 156 units

The value assigned to ending inventory if McLean uses periodic weighted average is: Select one: a. $686.70 b. $518.40 c. $679.17 d. $676.52

ans: D