Poll Question \#1 1,300 units are in ending inventory at the end of the current period, 20 of which were damaged by water and cannot be sold. How many units should be in periodending inventory? 1. 1,300 2. 1,320 3. 1,280 4. 0 Poll Question \#2 At the end of the period a company has 350 units in its delivery van, ready to deliver per a customer order, terms FOB destination. How many units should be in periodending inventory? 1. 700 2. 350 3. 175 4. 0 Poll Question \#3 At the end of a period a company has 350 units in its delivery van that is half-way between the company's location and its customer's location, terms FOB shipping point. How many units should be in period-ending inventory? 1. 700 2. 350 3. 175 4. 0 Poll Question \#4 At the end of a period Husker Company has 80 units out on consignment to Fairbury Company. How many units should be in Husker Company's period-ending inventory? 1. 80 2. 40 3. 0 Poll Question \#5 Where is the amount of merchandise inventory disclosed in the financial statements? 1. Balance Sheet 2. Income Statement 3. Statement of Retained Earnings 4. Both the Balance Sheet and Income Statement 5. Bothe the Balance Sheet and the Statement of Retained Earnings Poll Question $6 If costs are declining, will the UFO or FIFO method of inventory yleld the lower cost of goods sold? 1. LIFO 2. FIfo Poll Question \#7 If costs are declining, will the LIFO or FIFO method of inventory yield the lower ending merchandise inventory balance? 1. UFO 2. FIFO Poll Question \#8 If costs are increasing, will the LIFO ar FIFO method of inventory yield the lower cost of goods sold? 1. UFO 2. FIFO Poll Question \#9 If costs are increasing, will the LIFO or FIFO method of inventory yield the lower ending merchandise inventory balance? 1. LIFO 2. FIFO