Herr Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. Date June 1 June 15 June 29 Activities Beginning inventory Sale Purchase Units Acquired at Cost 15 units @ $36 = $540 Units sold at Retail 8 units e $41 - $328 6 units @ $66 The cost of the ending inventory is: Multiple Choice $328 $428 $652 o $435 Jammer Company uses a weighted average perpetual inventory system and reports the following: Units Sold at Retail Date August 2 August 18 August 29 August 31 Activities Purchase Purchase Sales Purchase Units Acquired at Cost 10 units @ $21 - $210 15 units @ $24 - $360 20 units sold 14 units @ $25 - $350 What is the per unlt value of ending inventory on August 317 Answers should be rounded to the nearest cent Multiple Choice $24.42 $25.00 $21.00 $26.42 Which of the following statements regarding the financial statement impact of inventory costing is false? Multiple Choice When purchase prices are different, the methods to assign inventory costs result in different amounts for cost of goods sold. Inventory on the balance sheet approximates current cost when FIFO is used. The weighted average method smooths out erratic changes in costi The use of different coating methods do not impact net income Cost of goods sold on the income statement approximates current cost when LIFO is used A company's inventory records indicate the following data for the month of Apri: Date Activities Units Acquired at Cost Units Sold at Retail April 1 Beginning inventory 840 units @ $36 - $30,240 April 7 Purchase 720 units & $40 - $28,800 April 11 Sale 1,280 units & $110 April 16 Purchase 640 units 544 - $28,160 April 22 Sale 1400 units & $110 April 29 Purchase 620 units # $50 - $31,000 The company uses a periodic inventory system. Determine the cost assigned to ending inventory using the specific identification method. Ending Inventory consists of 390 units from the April 29 purchase, 340 units from the April 16 purchase, 350 units from the April 7 purchase, and 100 units from beginning inventory Multiple Choice $59.480 $94,840 $63.400