January 1 inventory July 16 purchases Number of Cost per Total Bagel Makers Bagel Maker Bagel Maker Cost $142.00 - $1,136.00 515200 = 51.824.00 $158.00 $158000 10 $160.00 - 51.600.00 November purchases outra November 20 purchases Available for sale 56.140.00 November 22 sales December 31 inventory The selling price of the printer was $210. Instructions Fil in the correct answer T ontillonim ndihmit automatically when the tima i QUESTION 1 Determine cost of goods sold for the year ended December 31 if the LIFO cost flow assumption is used. QUESTION 2 Determine ending inventory as of December 31 if the LIFO cost flow assumption is used. QUESTION 3 Determine gross profit for the year ended December 31 if LIFO cost flow assumption is used. QUESTION 4 Determine cost of goods sold for the year ended December 31 if the FIFO cost flow assumption is used. QUESTION 5 Determine ending inventory as of December 31 H FIFO cost flow assumption is used. QUESTION 6 Determine gross profit for the year ended December 31 the FIFO cost flow assumption is used. QUESTION 7 Determine cost of goods sold for the year ended December 31 if the Weighted Average cost flow assumption is used. QUESTION 8 Determine ending inventory for the year ended December 31 if the Weighted Average cost flow assumption is used. QUESTION 9 Determine gross profit for the year ended December 31 if the Weighted Average cost flow assumption is used. QUESTION 10 For a company that uses U.S. GAAP, in a period of rising prices, the inventory cost flow assumption that results in the highest gross profit is: FIFO LIFO Weighted Average