liate Accounting: IFRS Edition, 4e Use the following information for questions 108 and 109. Transactions for the month of June were: Purchases June 1 Sales 22 13752 (balance) 800 @ 3.20 June 2 600 @ 5.50 2,200 @ 3.10 6 1,600 @ 5.50 1,200 @ 3.30 9 1,000 @ 5.50 1,800 @ 3.40 10 400 @ 6.00 500 @ 3.50 18 1,400 @ 6.00 25 200 @ 6.00 108. Assuming that perpetual inventory records are kept in euros, the ending inventory on a FIFO basis is a. 4,110. b. 4,160. c. 4,290. d. 4,470. Ans: LO: 3 Bloom: AN Difficulty: Hard Min: 2-4 AACSB: Analytic AICPA BB: Strategic/Critical Thinking AICPA FN: Measurement AICPA PC: Problem Solving and Decision-making IMA: None 109. Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, rounded to the nearest euro, is a. 4,096. b. 4,238. c. 4,290. d. 4,322. Ans: LO: 3 Bloom: AN Difficulty: Hard Min: 2-4 AACSB: Analytic AICPA BB: Strategic/Critical Thinking AICPA FN: Measurement AICPA PC: Problem Solving and Decision-making IMA: None