The following units of an inventory item were available for sale during the year. Use this information to answer the following question. Beginning inventory First purchase Second purchase Third purchase 10 units at $55 25 units at $60 30 units at $65 15 units at $70 The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory using FIFO is O$1,350 $1,150 $1,375 $1,250 Calculator The following units of an inventory item were available for sale during the year. Use this information to answer the following question. Beginning inventory First purchase Second purchase Third purchase 10 units at $55 25 units at $60 30 units at $65 15 units at $70 The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory using LIFO is $1,375 O$1,350 $1,150 $1,250 The following units of an inventory item were available for sale during the year. Use this information to answer the following question. Beginning inventory First purchase Second purchase Third purchase 10 units at $55 25 units at $60 30 units at $65 15 units at $70 The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory rounded to nearest dollar using average cost is: o $1,353 $1,263 $1,150 O$1,375 The following lots of Commodity Z were available for sale during the year. Use this information to answer the question. Beginning inventory First purchase Second purchase Third purchase 10 units at $30 25 units at $32 30 units at $34 10 units at $35 The firm uses the periodic system. There are 20 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? . $655 O b. $659 . $620 Od. S690 The following lots of a particular commodity were available for sale during the year Beginning inventory First purchase Second purchase Third purchase 10 units at $47.00 15 units at $50.00 51 units at $57.00 19 units at $60.00 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 O $1,120.00 O $1,368.00 O$5,267.00o 0$1,081.00o The following lots of Commodity Z were available for sale during the year. Use this information to answer the question. Beginning inventory First purchase Second purchase Third purchase 10 units at $30 25 units at $32 30 units at $34 10 units at $35 The firm uses the periodic system. There are 20 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? oa. S655 Ob. $659 . $690 od, $620 The following lots of a particular commodity were available for sale during the year Beginning inventory First purchase Second purchase Third purchase 8 units at $52.00 18 units at $55.00 24 units at $57.00 15 units at $57.00 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. O$1,196.00 $3,606.00 O$1,311.00 $3,629.00
