paway Acct 2301 Professor DeSouza juny wol Name: CHAPTER 6 Harrison 12th TEOzong Circle the letter of the best response. 1. The inventory records for Bracken Sales appear below: Inventory 800 Cost of Goods Sold (150 units @ ?) Beg. Bal. (20 units @ $40) Purchases No. 1: (100 units @ $60) No. 2: (80 units @ $80) 6,000 6,400 Using the average-cost method, what is the weighted average unit cost? A. $54.67 B. $60.00 C. $66.00 D. $68.89 2. Refer to Question 1. Using the average-cost method, what is the cost of goods sold? A. $9,900 B. $2,870 C. $7,000 D. $9,000 3. Refer to Question 1. What value is assigned to the ending inventory, if using FIFO? A. $9.200 B. $10,600 C. $2,600 D. $4.000 Gross profit plus cost of goods sold equals: A. sales revenue. B purchases. 11 - Co C