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Score: 1.6 of 4 pts 6 of 14 (13 complete) HW Score: 85.24%, 63.93 of 75 pts Starter 6-8 (bookletation Question Help Answer the following questions. i FIFO - X 1. Why does FIFO produce the 2. Why does moving-weighted 3. Which inventory costing me Perpetual Inventory Record-FIFO Cost for Chai Tea Boxes Inventory? Prices are rising. (Click the icon to view Chai Tea Boxes (Click the icon to view Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total During a period of rising prices, Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Nov. 1 10 $ 10.00 $ 100 1. FIFO produces the lowest c 5 60 $ 11.00 $ 660 10 $ 10.00 $ 100 irst. 2. Moving-weighted-average c 60 $ 11.00 $ 660 all units purchased are aver 15 10 $ 10.00 $ 100 20 $ 11.00 $ 220 40 $ 11.00 $ 440 3. The 26 70 $ 12.00 840 40 $ 11.00 $ 440 is left in ending inventory are which have th 70 $ 12.00 $ 840 30 40 $ 11.00 440 50 $ 12.00 600 20 $ 12.00 $ 240 30 130 $ 1,500 120 $ 1,360 20 $ 240 Click to select your answer(s) a Print Done ? All parts showing Check AnswerScore: 1.6 of 4 pts 6 of 14 (13 complete) HW Score: 85.24%, 63.93 of 75 pts Starter 6-8 (book/static) Question Help Answer the following questions. 1. Why does FIFO produce the 2. Why does moving-weighted- i MWA - X 3. Which inventory costing meth inventory? Prices are rising. (Click the icon to view Perpetual Inventory Record-Moving-Weighted-Average Cost (Click the icon to view for Chai Tea Boxes Chai Tea Boxes During a period of rising prices, Purchases Cost of Goods Sold Inventory on Hand 1. FIFO produces the lowest co Unit Total Unit Total Unit Total first. Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost 2. Moving-weighted-average co Nov. 1 10 $ 10.00 $ 100 all units purchased are avera 5 60 $ 11.00 $ 660 70 $ 10.86 $ 760 3. The 15 30 $ 10.86 $ 326 40 $ 10.86 $ 434 sts left in ending inventory are which have the 26 70 $ 12.00 840 110 $ 11.58 $ 1,274 30 90 $ 11.58 $ 1,042 20 $ 11.58 $ 232 30 130 $ 1,500 120 $ 1,368 20 $ 232.00 Print Done Click to select your answer(s) and thenT GIGK VITUCK ATTSWEI. ? All parts showing Clear All Check Answer3. The FIFO cost method provides the higher cost of ending inventory when prices are rising because the costs left in ending inventory are the oldest, which have the lowest unit costs | of the period