q 12 and q13

12. Sea Company had the following inventory purchases and sales during the month of May. The company uses the perpetual inventory method. Purchases Date Units Unit Price Total 5/1/2009 100 $3.8 $380 5/5/2009 200 55 $1000 5/15/2009 100 $6 5600 5/20/2009 150 $7 $1,050 5/30/2009 160 $8 $1,280 Date 5/10/2009 5/18/2009 5/29/2009 Units 120 275 155 Sales Unit Price $10 511 $11 Total $1,200 $3,025 $1,705 What is cost of goods sold on 18th of May under LIFO? (3 Points) O $1.400 O some other amount O $1,361 O 51 380 M 13. ABC Company uses a periodic inventory system. As of January 1, 2019 ABC Company has 1 100 units of a particular product at a cost of $735 per unit At December 31, 2019. 1.500 units of the product remain on hand. The purchases of the product during the year are shown below: 1st purchase 1450 units at $7.50 per unit 2nd purchase 1,600 units at $8.00 per unit 3rd purchase 1,000 units at $8.50 per unit What is cost of ending inventory at December 31, 2019 under LIFO? (3 Points) O $10.975 O $12,500 O $11,085 O 58,250