Use the following information for Sue's Soups for the next three questions:

On September 1, 2010, the beginning inventory was 110 units at $50 each. Purchases and sales during

September 2010 were:

Purchases During Sept 2010 Sales During Sept 2010

Sept 7 120 units @ $56

Sept 17 70 units @ $44

Sept 25 100 units @$42 Sept 29 270 units

____ 14. What is the cost of ending inventory for September if the AVERAGE costing alternative is used?

(round your answer to the nearest penny)

A. $965.52

B. $6,337.50

C. $5,362.50

D. $6.275.86

____ 15. What is the cost of inventory on September 30 if the LIFO costing alternative is used?

A. $7,160

B. $5,520

C. $6,620

D. $6,500

____ 16. What is the cost of goods sold for September if the FIFO costing alternative is used?

A. $13,920

B. $12,880

C. $13,980

D. $13,900