Using the LIFO method, calculate the cost of ending inventory and cost of goods sold for Carrington Corporation (Click the icon to view the data.) The cost of ending inventory is The cost of goods sold is Data Table - Total 1,540 Beginning inventory Purchases Goods available for sale Ending inventory Quantity Unit Cost 140 $ 11.00 $ 210 5 14.00 $ 350 130 220 2,940 Cost of goods sold Print Done Using the average cost method calculate the cost of ending inventory and cost of goods sold for Creek Corporation (Round the werage cost per unit to the nearest cont) EL (Click the icon to view the data) The cost of ending Inventory is The cost of goods sold is Data Table Beginning inventory Purchases Goods available for sale Ending Inventory Cost of goods sold Quantity Unit Cost Total 70 $ 300 $ 210 5 7.00 $ 910 200 60 140 Print Done Using the FIFO method calculate the cost of ending inventory and cost of goods sold for Campbell Corporation (Cick the icon to view the data) Next Question The cost of ending inventory is The cost of goods sold is X Data Table Quantity Unit Cost 120 5 8.00 $ 180 s 10,00 5 300 80 Total 969 1,800 Beginning inventory Purchases Goods available for sale Ending Inventory Cost of goods sold 220 Print Done On June 1, Nicholson Company purchased inventory on account with a cost of $1,200. Credit terms were 2/10, net 30. On June 2, Nicholson Company retumed 40 percent of the inventory. Nicholson Company uses the perpetual inventory system. What journal entry did Nicholson Company prepare on Jun O A. debit Purchase Returns for $480 and credit Accounts Payable for $480 O B. debit Accounts Payable for $480 and credit Inventory for $480 O C. debit Cash for $1,200 and credit Accounts Payable for $1,200 OD. debit Purchase Returs for $1,200 and credit Accounts Payable for $1.200 A company purchased inventory for $1,400 per unit. The company later sold one unit of the inventory for cash of $2,100. Under the perpetual inventory system, which accounts will be debited to record the sale? O A. Cash. $2.100: Inventory. $700 OB. Cash, $2,100; Inventory, $1,400 OC. Cash, $2,100; Cost of Goods Sold, $1,400 O D. Cash, $2,100; Cost of Goods Sold, $700