Grays Company has the following purchases and sales during the month of August. Using the FIFO perpetua/inventory method, what amount will be reported as cost of goods sold for the 12 units that were sold? Units Sold at Retail Date August 1 August 3 August 6 Activities Beginning inventory Purchase Sales Units Acquired at Cost 10 units @ $24 - $240 20 units @ $26 - $520 12 units sold Multiple Choice $284 $260 O $208 $282 Bedrock Company reported a December 31 ending inventory balance of $414,000. The following additional information is also available: The ending inventory balance of $414,000 included $72,400 of consigned Inventory for which Bedrock was the consignor. The ending inventory balance of $414,000 incorrectly included $22.800 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. Based on this information, the correct balance for ending inventory on December 31 is: Multiple Choice $414,000 $342.200 $319,400 Date Salmone Company reported the following purchases and sales of its only product Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Activities Units Acquired at Cost May 1 Beginning inventory Unita Sold at Retail 186 units @ $10 - $1,860 May 5 Purchase 256 units . $12 - $3,072 May 10 Sales 176 units # $20 May 15 Purchase 136 units @ $13 - $1,768 May 24 Sales 126 units @ $21 Multiple Choice $3,448 $3.252 $3,318 Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetua/ Inventory system. Determine the cost assigned to ending inventory using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning inventory 168 units e $10 - $1,680 May 5 Purchase 238 units # $12 - $2,856 May 10 Sales 158 units & $20 May 15 Purchase 118 units @ $13 - $1,534 May 24 Sales 108 units & $21 Multiple Choice $6,070 $2,640 $2,770