Question 21:

Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1	100 units at $75 per unit
Purchase on February 14	100 units at $80 per unit
Sale on August 21	150 units

What would be the companys cost of goods sold in dollars on December 31 if the company used perpetual, last in, first out (LIFO) method?

Group of answer choices

$4,000

$3,750

$11,500

$11,750

Question 22:

Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1	100 units at $75 per unit
Purchase on February 14	100 units at $80 per unit
Sale on August 21	150 units

What would be the companys ending merchandise inventory in dollars on December 31 if the company used perpetual, first in, first out (FIFO) method?

Group of answer choices

$4,000

$3,750

$11,500

$11,750

Question 23:

Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1	120 units at $70 per unit
Purchase on February 14	100 units at $85 per unit
Sale on August 21	120 units

What would be the companys cost of goods sold in dollars on December 31 if the company used perpetual, first in, first out (FIFO) method?

Group of answer choices

$9,900

$8,500

$8,400

$7,000

Question 24:

Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1	120 units at $70 per unit
Purchase on February 14	100 units at $85 per unit
Sale on August 21	120 units

What would be the companys ending merchandise inventory in dollars on December 31 if the company used perpetual, weighted average (WA) costing method?

Group of answer choices

$9,900

$7,000

$9,218

$7,682

Question 25:

Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1	100 units at $75 per unit
Purchase on February 14	100 units at $80 per unit
Sale on August 21	150 units

What would be the companys cost of goods sold in dollars on December 31 if the company used perpetual, weighted average (WA) costing method?

Group of answer choices

$4,000

$3,750

$11,625

$11,750