Use the following information for the month of May: May 1 7 18 22 29 Beginning Inventory Purchases Sales Purchases Sales 20 units @ $19 65 units @ $20 25 units 40 units @ $22 40 units Assuming that a periodic inventory system is used, what is ending inventory on a FIFO basis? Select one: a. $720 b. $680 c. $1,280 d. $1,320 O Pillar Company plans to make equal annual payments into a savings account at the beginning of each year for five years. Which of the following would be used to calculate the amount in the account at the end of five years? Select one: a. Future value of ordinary annuity b. Future value of annuity due c. Present value of annuity due O d. Present value of ordinary annuity e. Present value of a single amount