Thid h the periodic rystem and there are 20 units of the The i Whari the amount of cost of good sold for the year according to the average cost method? A SI375 e$1,510 dS1,250 2 Whar is the amount of cost of goods sold the year according to the FIFO method? $1,380 & S1.375 S1,510 d $1,250 t of goods sold the year according to the LIFO method? 33 What is the amount of cost a. S1,380 b. $1,375 c. $1,510 d. $1,250 34. In a period of rising prices which approach will result in the highest gross profit? a. lifo b. fifo C. average cost d. lower of cost or market 35. X Company received a 60 day, 5 % note for $54,000 dated July 15. The maturity value of the no a. $54,000 b. $54.550 c. $54450 d. none of the above 36. The entry to record this note receivable would include a: a. debit to note recobble and credit to cash b. a credit to note receivable and a debit to cash c. a debit to cash, debit to interest revenue and credit to note payable d.none of the above