Use the following information to answer questions 78 and 79. Sam's Store uses a periodie inventory system. The following information is given Jan. 1 Feb. 6 Mar. 9 Apr. 2 Dec. 1 Dec. 5 Beginning Inventory, 100 units @S10 each Sold 50 units @ $25 each Purchased 500 units @$11 each Purchased 300 units @ $13 cach Sold 840 units @ $28 each Purchased 100 units @ S14 cach 78. What is the cost of ending inventory as of December 31" on a FIFO basis? a. S1.540 100-50 +500 +300 - 54o tlo llo S1.530 c. $1.450 100(4+ loxis 1530 d. $1.110 What is the cost of goods sold as of December 31" for the year end on a weighted average cost basis? tox $10+ box $/ + $0o**11+ 290 x $13 a b. C. $17.221 $14,982 S11.800 (840-50) 020 790 (790-60.) $10.502 Use the following information to answer questions 78 and 79. Sam's Store uses a periodie inventory system. The following information is given Jan. 1 Feb. 6 Mar. 9 Apr. 2 Dec. 1 Dec. 5 Beginning Inventory, 100 units @S10 each Sold 50 units @ $25 each Purchased 500 units @$11 each Purchased 300 units @ $13 cach Sold 840 units @ $28 each Purchased 100 units @ S14 cach 78. What is the cost of ending inventory as of December 31" on a FIFO basis? a. S1.540 100-50 +500 +300 - 54o tlo llo S1.530 c. $1.450 100(4+ loxis 1530 d. $1.110 What is the cost of goods sold as of December 31" for the year end on a weighted average cost basis? tox $10+ box $/ + $0o**11+ 290 x $13 a b. C. $17.221 $14,982 S11.800 (840-50) 020 790 (790-60.) $10.502