The following lots of a particular commodity were available for sale during the year Beginning inventory 9 units at $48.00 First purchase 19 units at $50.00 Second purchase 26 units at $55.00 Third purchase 15 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. $1.325.00 52.674.00 53,697.00 SI.104.00 The following lots of a particular commodity were available for sale during the year Beginning inventory 8 units at $52.00 First purchase 17 units at $51.00 Second purchase 54 units at $57.00 Third purchase 18 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the LIFO method? Select the correct answer. 51.347.00 S1.181.00 S1.196.00 $5.423.00 Previous Neyt Determine the amount to be paid by the buyer for full settlement of each Invoice, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise Transportation Paid by Seller Transportation Terms Returns and Allowances (a) $6,900 $323 FOB Shipping Point, 1/10, net 30 $700 (b) $12,000 FOB Destination, 2/10, net 45 $2,600 $74 a. b