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sorry one pic is repeated Multiple Choice (1.8 points each) The 2020 inventory data for Garden Corporation's patio furniture Bermuda set is presented below. Assume

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Multiple Choice (1.8 points each) The 2020 inventory data for Garden Corporation's patio furniture Bermuda set is presented below. Assume that Garden uses periodic inventory tracking. 2020 Beginning Inventory (purchased in 2019) 50 units @ $280 per unit Purchases: Purchase 1 on 1/20/20 150 units @ $300 per unit Purchase 2 on 6/15/20 600 units @ $320 per unit Sales: Sale 1 on 4/8/20 275 units @ $600 per unit Sale 2 on 9/25/20 430 units @ $600 per unit When Garden examines the actual units in ending inventory, they see that 15 of the units are from 2020 beginning inventory, 20 units are from the 1/20/20 purchase, and 60 units are from the 6/15/20 purchase. 1. What is Inventory on the 12/31/20 Balance Sheet if Garden uses FIFO? a. $223,500 b. $220,600 c. $30,400 d. $27,500 2. What is Cost of Goods Sold on the 2020 Income Statement if Garden uses LIFO? a. $223,500 English linter States Multiple Choice (1.8 points each) The 2020 inventory data for Garden Corporation's patio furniture Bermuda set is presented below. Assume that Garden uses periodic inventory tracking. 50 units @ $280 per unit 2020 Beginning Inventory (purchased in 2015) Purchases: Purchase 1 on 1/20/20 Purchase 2 on 6/15/20 150 units @ $300 per unit 600 units @ $320 per unit Sales: Sale 1 on 4/8/20 Sale 2 on 9/25/20 275 units @ $600 per unit 430 units @ $600 per unit When Garden examines the actual units in ending inventory, they see that 15 of the units are from 2020 beginning inventory, 20 units are from the 1/20/20 purchase, and 60 units are from the 6/15/20 purchase. 1. What is Inventory on the 12/31/20 Balance Sheet if Garden uses FIFO? a $223,500 b. $220,600 c. $30,400 d. $27,500 2. What is Cost of Goods Sold on the 2020 Income Statement if Garden uses LIFO? a. $223,500 b. $220,600 c. $30,400 d. $27,500 4. What is Gross Profit on the 2020 Income Statement if Garden uses Weighted Average Cost? a. $251,000.00 b. $221,193.75 c. $201,806.25 d. $29,806.25

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