Question 34 Use the following information for the month of May: Not yet answered May Points out of 3.00 1 7 18 22 29 Beginning Inventory Purchases Sales Purchases Sales 30 units @ $19 80 units @ $20 55 units 25 units @ $22 50 units Flag question Assuming that a periodic inventory system is used, what is ending inventory on a FIFO basis? Select one: a. $570 b. $650 c. $1,395 d. $1,250 e. $1,995 Question 35 Not yet Pillar Company purchases a machine and will make five annual payments to the vendor; the first payment is on the date of purchase. Indicate which computation is appropriate to determine the recorded cost of the machine. answered Points out of 3.00 Select one: a. Future value of ordinary annuity Flag question b. Future value of annuity due c. Present value of annuity due d. Present value of ordinary annuity