Please do both.

11) In a period of rising prices which inventory method generally provides the greatest amount of net income? a. Average cost. b. FIFO. C. LIFO. d. Specific identification. 12) Horvath Company has the following items at year end: Cash in bank $20,000 Petty cash 300 Short-term paper with maturity of 2 months 5,500 Postdated checks 1,400 Horvath should report cash and cash equivalents of a. $20,000. b. $20,300 c. $25,800 d. $27,200