QUESTION 9

1. Units Cost

   Inventory, Jan 1 9000 $10

   Purchase June 21 11000 $12

   Purchase Dec 21 1000 $13

   If 9000 units are on hand at the end of the year, what is the cost of ending inventory using LIFO inventory system.

QUESTION 10

1. Corporate annual reports do not usually include

   		internal auditors report and opinion about the financial statements
   		financial statements from the prior year
   		historical summary of selected financial data for the past 5 years or more
   		financial statements for the most recent year