o Acompany sellt long-term mainlerance contracts for computer equimect. On December 15, 2020, it sels a 3-year contract to Customer A, receiving $15,000 cash. The Merch 31,20217 A. 51.500 B. 51,250 C 51,200 0.51,300 Qutstion 21 Q. A college sports leam offers season tokets priced at 550 each. which entite subecnbers to attend all 5 home games. Before the season starts, the team selis 500 season lekets. What is the leamis uheamed revonue lablity AFTEA playing the frst game? A. 7.500 B. 5,000 c. 20,000 D. 25.000 Q. ABC Corp. has 110 units of imventory 50 were purchased on Apel 15 and have a unt cost of $5.00. 60 were purchased on May 1 and have a unit cost of $5.20. On May 3. ABC sels 55 unils of this product. Using the FIFO (first in, frist out) cost fow assimption, what is the ending value of inventory (55 units)? A. 30250 1. 30050 C. 290 D. 266 QUESTION 23 Q. ABC Corporation has 100 untr of inventony 40 were purchased on Apri 15 for $9 each. co were purchased on Apri 30 for 59 so each. On May 3 , the company selis 70 unts. Which of the following statements wil be true? Note that you shovid be abie to answer this question WiTHOUT doing afy calculations Revenue will be Nigher ving LiFO than using FIFO 1. Cndivg imentory computing uting LFO wil be Wigher thin ending inventory computed using FIFO C. C. Gross proft using LFO will be higher than gross proti computed using FIFO D. coos compuied usimg FIFO will be lower than coos oompuled uting LIFO o Acompany sellt long-term mainlerance contracts for computer equimect. On December 15, 2020, it sels a 3-year contract to Customer A, receiving $15,000 cash. The Merch 31,20217 A. 51.500 B. 51,250 C 51,200 0.51,300 Qutstion 21 Q. A college sports leam offers season tokets priced at 550 each. which entite subecnbers to attend all 5 home games. Before the season starts, the team selis 500 season lekets. What is the leamis uheamed revonue lablity AFTEA playing the frst game? A. 7.500 B. 5,000 c. 20,000 D. 25.000 Q. ABC Corp. has 110 units of imventory 50 were purchased on Apel 15 and have a unt cost of $5.00. 60 were purchased on May 1 and have a unit cost of $5.20. On May 3. ABC sels 55 unils of this product. Using the FIFO (first in, frist out) cost fow assimption, what is the ending value of inventory (55 units)? A. 30250 1. 30050 C. 290 D. 266 QUESTION 23 Q. ABC Corporation has 100 untr of inventony 40 were purchased on Apri 15 for $9 each. co were purchased on Apri 30 for 59 so each. On May 3 , the company selis 70 unts. Which of the following statements wil be true? Note that you shovid be abie to answer this question WiTHOUT doing afy calculations Revenue will be Nigher ving LiFO than using FIFO 1. Cndivg imentory computing uting LFO wil be Wigher thin ending inventory computed using FIFO C. C. Gross proft using LFO will be higher than gross proti computed using FIFO D. coos compuied usimg FIFO will be lower than coos oompuled uting LIFO