subject S. Question_content No. Intercontinental, Inc., uses a perpetual inventory system. Consider the following information about its inventory: July 1, purchased 10 units for $910 or $91 per unit; July 3, purchased 15 units for $1,590 or $106 per unit; July 14, sold 20 units; July 17, purchased 20 units for $2,300 or $115 per unit; July 28, purchased 10 1 units for $1,190 or $119 per unit; July 31, sold 23 units. Accounting Using LIFO, the cost of goods sold for the sale of 23 units on July 31 is and the inventory balance at July 31 is One item is omitted in each of the following summaries of balance sheet and income statement data for three different companies, A, B, and C. Determine the amounts of the missing items, identifying each company by letter (You must show your calculations) COMPANY. 2 Accounting A B C Beginning of the year: Assets Liabilities 300,000 160,000 160,000 95,000 120,000 70,000 End of the year: Assets 500,000 300,000 200,000 100,000 180,000 60,000 ? 40,000 Liabilities During the year: Additional investment by the owner Withdrawals by the owner Revenue Expenses 65,000 75,000 ? 80,000 190,000? 160,000 85,000 35,000 110,000 3 Should employee vacation pay be recorded in the period during which the vacation privilege is earned or during the period in which the vacation is taken? Use and discuss accounting principles to support your answer. Accounting