Question 14 (2 Poin... Rich Lil 5 Account Schoology Question 4(5 points From the following info. calculate the value of Ending Inventory in FIFO and Wighted Average Cost method Grounded to closest whole number) Details No. of Units Price per unit Beginning Inventory 180 $ 30 Feb 20 - Purchases 315 $ 29 Apr 30 - Sold 145 $40 May 15 - Sold 225 $ 35 Ob O. $3670 and $3625resp. $ 3725 and 5 3725 resp none of the above $3625 and $ 3670 resp. Od Question 5 11 point) Which of the following ystem requires a physical count of inventory to determine the amount of inventory to report on the balance sheet Oa O Perpetual Inventory Systern Periodic Inventory System both the systems none of the above Od Time left for this 38:20 Question 61 point Question 6 (1 point) Trade discounts are provided by a manufacturer or wholesaler for the following reason: a O a credit discount offered based on returned merchandise a specific percentage discount provided to encourage the customer to engage in early payment of invoices a specific percentage discount provided to customers based on specific industry benchmark a specific percentage discount provided to customers based on the quantities/ volume of goods purchased Od Question 7 (5 point Which accounting principle requires that a company use the same accounting methods period after period Oa O oc Od Business entity principle Revenue Recognition Principle consistency principle Lower of cost and net realizable value principle Question 8 11 point) Gross Profit Margin is calculated as follows Time left for this Sessitent 38:03 Net selling Price - Cost Profit. Revenue Cost of Goods Sold - Net Sales O