Lacy's Linen Mart uses the average cost retail method to estimate inventories. Data for the first six months of 2021 include: beginning inventory at cost and retail were $60,000 and $120,000, net purchases at cost and retail were $312,000 and $480,000, and sales during the first six months totaled $490,000. The estimated inventory at June 30, 2021, would be: Multiple Choice O $63,250 $55,000. $68,200. $71,500. In 2021, Hopyard Lumber changed its inventory method from LIFO to FIFO, Inventory at the end of 2020 of $127,000 would have been $144,000 if FIFO had been used. Inventory at the end of 2021 is $155,000 using the new FIFO method but would have been $150,000 if the company had continued to use LIFO. What is the effect of the change on 2021 cost of goods sold? 2021 cost of goods sold is Data related to the inventories of Costco Medical Supply are presented below: Surgical Surgical Equipment Supplies Rehab Equipment Rehab. Supplies Selling price Cost $261 $132 $340 164 101 258 Costs to sell 25 12 18 $145 140 12 In applying the lower of cost or net realizable value rule, the inventory of surgical equipment would be valued at: Multiple Choice $164. $128. $214. $226