Please answer 11-16

Alpha First Company just began Business and made the following four inventory purchases in June: A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the UFO inventory method, the value of the ending inventory on June 30 is $1, 300 $1, 365 $1, 650 $1, 620 Which of the following should not be included in the physical inventory of a company? Goods held on consignment from another company. Goods in transit from another company shipped FOB shipping point. Goods shipped on consignment to another company. All of the above should be included. When a perpetual inventory system is used, which of the following is purpose of taking a physical inventory? To check accuracy of the perpetual inventory records To determine cost of goods sold for the accounting period To compute inventory ratios All are a purpose of taking a physical inventory when a perpetual inventory system is used June: A physical count of merchandise inventory on June 30 reveal that there are 250 units on Using the FIFO inventory method, the amount allocated to ending inventory for June is $1, 300 $1, 365 $1, 620 $1, 650 In a period of declining prices, which of the following inventory methods generally results in the lowest balance sheets figure for inventory? Average cost method LIFO method FIFO method Need more information to answer In a period of rising prices, which of the following inventory methods generally results in the lowest net income figure? Average Cost Method LIFO method FIFO method Need more information to