The following data shows all transactions of Jasmine Corporation for the month of January and applies to questions 1-6. Date Transaction # units $ unit Total $ Notes for Specific Identification Only Jan. 1 Opening inventory 300 15 $ 4,500 Jan. 1 Sale 200 30 Jan. 18 Purchase 500 14 Jan. 31 Sale 300 28 6,000 7,000 8,400 all units sold were from opening inventory all units sold were from the Jan. 18 purchase 1. If Jasmine Corporation uses the FIFO method of inventory valuation and employs the periodic method, gross profit for the month of January rounded off to the nearest dollar is: A. 7,100 B. 7,200 C. 7,212 D. 14,400 2. If Jasmine Corporation uses the FIFO method of inventory valuation and employs the periodic method, ending inventory at the end of January rounded off to the nearest dollar is: A. 4,200 B. 4,300 C. 4,313 D. 8,400 3. If Jasmine Corporation uses the average cost method of inventory valuation and employs the periodic method, cost of sales recorded on January 31 rounded off to the nearest dollar is: A. 4,250 B. 7,188 C. 7,200 D. 7,300 4. If Jasmine Corporation uses the Specific Identification method of inventory valuation and employs the periodic method, ending inventory at the end of January rounded off to the nearest dollar is: A. 4,200 6. B. 4,300 C. 4,313 D. 8,400 5. If Jasmine Corporation uses the Average cost method of inventory valuation and the perpetual inventory method, cost of sales recorded on January 31 rounded off to the nearest dollar is: A. 4,250 B. 4,300 C. 7,250 D. 7,300 If Jasmine Corporation uses the specific identification method of inventory valuation and employs the perpetual method, ending inventory at the end of January rounded off to the nearest dollar is: A. 4,200 B. 4,300 C. 4,313 D. 8,400