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Multiple Choice Question 84 Sheridan Company's inventory records show the following data: Units Unit Cost Inventory: January 1 9800 $9.00 Purchases: June 18 8800 7.00 November 8 5800 6.00 A physical inventory on December 31 shows 4300 units on hand. Sheridan sells the units for $12 each. The company has an effective tax rate of 22%. Sheridan uses the periodic inventory method. Under the LIFO method, cost of goods sold is O $25800. $145900. $133000. $154500.Moldple Choice Question Waterway Shutters has the following inventory information. Nov. Inventory 50 units @ $6.00 8 Purchase 80 units @ $5.00 17 Purchase 40 units @ $6.00 25 Purchase 80 units @ $7.00 A physical count of merchandise inventory on November 30 reveals that there are 100 units on hand. Assume a periodic inventory system is used. Ending inventory under LIFO is O $700. $1653. $1707. O $550.Brief Exercise 173 In the first month of operations, Mordica Company made three purchases of merchandise in the following sequence: (1) 200 units at $6, (2) 300 units at $7, and (3) 400 units at $9. Assuming there are 300 units on hand. Compute the cost of the ending inventory under the FIFO method and the LIFO method. Mordice uses a periodic inventory system, FIFO LIFO S