Need help with questions 18 - 20 please!

Which of the following statements is false with regard to quality of financial reporting? Use the following information to answer questions 18 through 20: ABC Company purchases five products for sale in the order and at the costs shown: Unit Costper Unit $10 $12 $15 $18 $13 4 Financial information should be useful both to assess the past and predict the future. > It is unlikely that management can manipulate the bottom line due to the regulations in place to enforce GAAP The closer that the picture presented through the financial data is to reality, the higher the quality of financial reporting Financial statements should reflect an accurate picture of a company's financial condition and performance QUESTION 18 Assume ABC sells two items and uses the FIFO method of inventory valuation. What amount would appear in ending inventory on the balance sheet? $31 $46 $22 O $45 QUESTION 19 Assume ABC sells two items and uses the LIFO method of inventory valuation. What amount would appear for cost of goods sold on the income statement? O $31 $41 $22 $37 QUESTION 20 Assume ABC uses the average cost method of inventory valuation. What unit cost would be used to determine the amount in ending inventory or cost of goods sold? $12.67 $13.00 $15.00 $13.60