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Please answer for all inventory systems Question 10 1 pts Use the following information for questions 10 through 12 related to the inventory records of
Please answer for all inventory systems
Question 10 1 pts Use the following information for questions 10 through 12 related to the inventory records of Rich Company for January: Units Unit Cost Total Cost Balance at January 1 9,000 $9.77 $87.930 Purchases: January 6 6,000 10.30 61,800 January 26 8,100 10.71 86,751 Sales: January 7 January 31 Balance at January 31 (7.500) (7.100 8.500 Assuming that periodic Inventory records are kept, the cost of Goods Sold on a LIFO basis is: $153436 $83,045 $83,985 $152,496 Question 11 1 pts Assuming that perpetual inventory records are kept, the Ending Inventory on a LIFO basis is: O $83,985 O $83,045 $152,496 O $153,436 Question 12 1 pts Assuming that perpetual inventory records are kept, the cost of Goods Sold on a FIFO basis is: $145,610 $90.871 $149.464 $153,436 Step by Step Solution
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