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Use the following information to complete Questions 28 through 31 . The following information is available for Garrett Inc. A physical inventory count shows 80

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Use the following information to complete Questions 28 through 31 . The following information is available for Garrett Inc. A physical inventory count shows 80 units in stock on October 31. Garrett maintains a periodic inventory system. 28. Garrett Inc, uses the specific identification inventory method to value month-end inventory. Garrett determines that the ending inventory units consist of 5 units from beginning inventory, 10 units from the October 5m purchase, 30 units from the October 15m purchase, and 35 units from the October 25th purchase. What is Garrett's cost of goods sold recognized for the month of October? A) $695.50 B) $895.50 C) $905.00 D) $431.50 E) $422.00 29. Garrett Inc. uses the FIFO inventory method to value month-end inventory and applies a periodic inventory system. What is Garrett's cost of goods sold recognized for the month of October? A) $437 B) $408 C) $902 D) $919 E) $890 30. Garrett Inc. uses the LIFO inventory method to value month-end inventory and applies a periodic inventory system. What is Garrett's ending inventory recognized on October 31 ? A) $437 B) $408 C) $902 D) $919 E) $890 31. Garrett Inc. uses the average cost method to value month-end inventory and applies a periodic inventory system. What is Garrett's ending inventory recognized on October 31 ? A) $902.36 B) $905.00 C) $424.64 D) $422.00

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