The following lots of commodity z were available for sale during the year. Beginning inventory 12 units at $49 First purchase 19 units at $52 Second purchase 52 units at $59 Third purchase 14 units at $61 The firm uses the periodic system, and there are 29 units of the commodity on hand at the end of the year. What is the ending inventory balance at the end of the year according to the LIFO method? O $1.421 Ob. 51472 c. 55.498 Od $1.739 I Boxwood Company sells blankets for $40 each. The following was taken from the inventory records during May. The company had no beginning inventary on May 1. Date Blankets Units Cost May 3 Purchase 9 $14 10 Sale 5 17 Purchase 13 $15 20 Sale 6 3 23 Sale 30 Purchase 10 $26 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the FIFO Inventory cost method. c. 5146 O BI 3 12:09 AM 10/20/2020 DELL F4 FB F10 F11 Priser F12 Delete Irisert (FO > F9 P + $ % * A Backspac 4 5 6 7 o R O Y T T a U 1 G F H J K L Pierce Company sold to Stanton Company merchandise on account FOB shipping point, 1/10, net 30, for $500. Pierce prepaid the shipping charge. Which of the following entries does Pierce make to record this sale? Da. Accounts Receivable-Stanton, debit 540; Sales, credit 540 Ob. Accounts Receivable-Stanton debit $495; Sales, credit $495, and Accounts Receivable-Stanton, debit $40; Cash, credit $40 Oc. Accounts Receivable-Stanton, debit $540: Sales, credit $540 Od. Accounts Receivable-Stanton, debit $40: Sales, credit S40, and Transportation Out, debit $500 Cash, credit $500