Question 1) Hyde Company uses a perpetual inventory system. It entered into the following purchase and sale transactions for March:

Date	Activity	Units acquired at cost	Units sold at retail
March 1	beginning inventory	100 units @ $50/unit
March 5	purchase	400 units @ $55/unit
March 9	sale		420 units @ $85/unit
March 18	purchase	120 units @ $60/unit
March 25	purchase	200 units @ $62/unit
March 29	sale		160 units @ $95/unit
	TOTALS	820 units	580 units

Compute the ending inventory for the month using FIFO.

$13,680

$32,248

$14,800

$32,920

$50,900

$31,800

Question 2) GlynnCo, a 20X1 start-up that uses the periodic method and weighted-average costing, makes the following merchandise purchases:

20X1	Units	Unit cost
March	400	$3.00
August	600	$3.50
20X2
February	550	$4.00
October	100	$5.05

At the end of 20X1, there are 350 units in ending inventory. If, in 20X2, GlynnCo sells 800 units, what is the 20X2 cost of goods?

$3,110
		$3,074
		$3,088
		$3,329.23
		$3,620

Question 3) Alison Inc., which uses the perpetual method and moving-average costing, shows the following activity for January:

		Quantity	Unit Cost
January 1	beginning inventory	140	$6
January 8	sale	100
January 15	purchase	60	$5
January 20	sale	80
January 25	purchase	180	$4.50

What is the cost of goods sold for the month?

$930

$1,032

$923.40

$862.20

$916.67

Question 4) Under average costing:

		COGS reflects the cost of the items purchased earliest.
		COGS reflects the cost of items from the earliest and most recent purchases.
		COGS reflects the cost of the most recently purchased items.

Question 5) Under LIFO costing:

		Ending inventory may include items from the earliest and most recent purchases.
		Ending inventory is always the items purchased earliest.
		Ending inventory is always the most recently purchased items.

Please solve the total five questions and don't spare any of these, you can take your time but please don't spare the question as It is very very urgent. I will upvote you if you solve all of these correctly.