Knowledge Check 01 A company uses a periodic Inventory system. On November 1, the company had 8 items of beginning Inventory with a cost of $22 per unit. On November 2, the company purchased 10 units at $21 per unit. On November 6, the company purchased 5 units at $25 per unit. Then, on November 8, the company sold 18 units. Using LIFO, the cost of the 18 units sold is Cost of the units sold Knowledge Check 01 A company uses a periodic Inventory system. On April 1, the company had 9 items of beginning Inventory with a cost of $13 per unit. On April 18, the company purchased 15 units at $14 per unit. Then, on April 29, the company sold 14 units. Using weighted average, the cost of the 14 units sold is closest to Cost of the units sold