For Part 1 of this homework assignment (cost flow assumptions), please use the information below: Description Units Price/Unit 10 30 40 June 1 June 2 June 10 June 12 June 17 June 21 June 29 Beginning Inventory Purchase Purchase Sale Purchase Purchase Sale Total Price $30 $120 $240 $1,200 $490 $500 $1,760 $3 $4 $6 $20 $7 $10 $22 60 70 50 80 Assume the company uses the PERIODIC method for inventory. Additional Information: The ending inventory consists of 15 units purchased on 6/2, 25 units purchased on 6/10, and the remaining units were purchased on 6/21. Question 7 (Mandatory) (5 points) Saved Assume the company uses the Average-Cost (Weighted-Average) cost-flow assumption. What will the company report as Cost of Goods Sold (CGS) for the month of June? $914 $414 $966 $425 Question 8 (Mandatory) (5 points) Saved Assume the company uses the First-in-First-out (FIFO) cost-flow assumption. What will the company report as Cost of Goods Sold (CGS) for the month of June? $525 $870 $570 $810 Question 9 (Mandatory) (5 points) Assume the company uses the Last-in-First-out (LIFO) cost-flow assumption. What will the company report as Cost of Goods Sold (CGS) for the month of June? $1,170 $225 $270 $1,110 Question 10 (Mandatory) (3 points) How many units were sold during June? 200 120 140 60 Question 11 (Mandatory) (3 points) How many units were available for sale during sale during the month of June? 200 140 60 120 Question 12 (Mandatory) (3 points) What is the dollar value of inventory available for sale during sale during the month of June? $1,380 $1,225 $4,340 $3,380