Kimmel, Accounting, 6e t Time: 01:19 PM/Remaining: 140 min. Multiple Choice Question 136 In periods of inflation, phantom or paper profits may be reported as a result of using the FIFO costing assumption LIFO costing assumption. O periodic inventory method perpetual inventory method. Click if you would like to Show Work for this question: Open Show Work count 2 3 4 5 6 8 R19 Pemaining: 140 min. Multiple Choice Question 89 Trumpeting Trumpets has the following inventory data: uly 1 Beginning inventory 42 units at $101 14 Sale 21 Purchases 30 Sale 252 units at $94 168 units 126 units at $97 118 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis? $27178 O $27262 O$12974 $12890 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT 80 8 2 3 4 5 6 Multiple Choice Question 116 Tamarisk, Inc. had beginning inventory of $15600 at March 1, 2017. During the month, the company made purchases of $67600. The inventory at the end of the month is $17990. What is cost of goods sold for the month of March? o $85590 $67600 $65210 $83200 Open Show Work Click if you would like to Show Work for this question: Question Attempts: 0 of i used SAVE FOR LATER SUBMEIT ANSWER Help | me: 01:19 PM / R BACK Multiple Choice Question 81 Bramble Corp. has the following inventory data: July 1 Beginning inventory 39 units at $20 $780 137 units at $21 2877 20 units at $22 440 $4097 7 Purchases 22 Purchases A physical count of merchandlise Inventory on July 30 reveals that there are 49 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is O $1147 O $1049. O $1078. $990