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Company A just starting business has made the following four inventory purchases in June: A physical count of inventory on June 30 shows that the company has 350 units of inventory on hand. Assume Company A is using First-in First-out method to manage its inventory cost flow. Question 1 (5 points): Because the company just started the business, its beginning balance of inventory is zero. From the table provided above, we can see four purchases of inventory happened in June. If no inventory was sold or taken away from the warehouse after the purchases, how many units of inventory would Company A have on hand at the end of June? A) 700 B) 550 C) 350 Question 2 (5 points): Because the company is using first-in first-out method, the inventory purchased first (i.e., purchased on June 1) would be out first. If Company A just sold 150 units of inventory in June, how many units of inventory will be left on hand at the end of June? A) 700 B) 550 C) 350 The company is using first-in first-out method, meaning that the inventory purchased first (i.e., purchased on June 1) would be out first. After the inventory purchased on June 1 has been totally out, if Company A keeps selling its inventory, the one purchased on June 10 will be consumed. When all the inventory purchased on June 10 is totally out, the inventory purchased on June 15 will then be consumed. Question 3 (5 points): Now, as the information shows that the company had 350 units of inventory on hand at the end of June, how many units of inventory have been sold out in June? A) 150 B) 200 C) 350