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Use the following data for the questions <29 31>. PQR company has the following inventory records at December 31, 20x1. Beginning inventory: 90 units at

Use the following data for the questions <29 31>.

PQR company has the following inventory records at December 31, 20x1.

Beginning inventory: 90 units at $9 per unit

Dec. 10 purchase: 280 units at $12 per unit

Dec. 22 purchase: 90 units at $13 per unit

At Dec 31, 240 units are still on hand.

29. What is the cost of goods sold during December if PQR uses the LIFO method?

A. $2,760

B. $3,120

C. $2,610

D. None of the above.

Your answer (A, B, C, or D)

Show your calculation in detail.

30. What is the cost of goods sold during December if PQR uses the FIFO method?

A. $2,760

B. $3,120

C. $2,970

D. None of the above.

Your answer (A, B, C, or D)

Show your calculation in detail.

31. What is the cost of goods sold during December if PQR uses the average cost method? Round to the nearest dollar.

A. $2,786

B. $3,120

C. $2,610

D. None of the above.

Your answer (A, B, C, or D)

Show your calculation in detail.

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