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hw help will upvote if u can ans all questions thank you QUESTION 13 The following information was collected from the inventory records of a

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QUESTION 13 The following information was collected from the inventory records of a company for the month of March, 2009. During March the company sold 90 units of its product at $25 per unit Date Units 15 Beginning inventory Purchase Purchase Purchase March 1 March 5 March 10 March 17 35 70 Unit Cost $10.00 $12.00 $14.00 $15.00 Total Cost $150 $420 $980 $375 25 Determine cost of goods sold under LIFO for the month of March 640 795 1,285 1,130 QUESTION 14 ABC Company collected $3,600 in May of 2013 for 6 months of service which would take place from September of 2013 through February of 2014. The revenue reported from this transaction during 2013 would be: $0 $2,400 $3,600 $1,800 QUESTION 15 At March 1, 2014, Candy Inc. had supplies on hand of $8,300. During the month, Candy purchased supplies of $4,600 and used supplies of $1,200. The March 31 balance sheet should report what balance in the supplies account? $3,400 $11,700 $12,900 $7.100 QUESTION 16 Ollo's car repair shop services a car on August 30. The customer picks up the vehicle on September 1 and mails the payment to Otto on September 6. Otto receives the check in the mail on September 6. When should Otto show that the revenue was recognized? August 1 August 30 September 5 September 6 QUESTION 17 Which of the following should NOT be included in the physical inventory of a company? Goods in transit to another company shipped FOB destination Goods in transit to another company shipped FOB shipping point Goods in transit from another company shipped FOB shipping point Goods shipped on consignment to another company QUESTION 18 Two companies report the same cost of goods available for sale but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using FIFO will have the highest cost of goods sold FIFO will have the highest ending inventory OLIFO will have the highest ending inventory LIFO will have the lowest cost of goods sold

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