1)

Beginning inventory	10 units @ $10 per unit
First purchase	35 units @ $11 per unit
First sale		20 units
Second purchase	40 units @ $12 per unit
Second sale		35 units
Third purchase	15 units @ $13 per unit

What is the value of the ending inventory using a perpetual inventory system with the LIFO costing method?

Group of answer choices

$485

$555

$520

$540

None of the above

2)

Beginning inventory	10 units @ $10 per unit
First purchase	35 units @ $11 per unit
First sale		20 units
Second purchase	40 units @ $12 per unit
Second sale		35 units
Third purchase	15 units @ $13 per unit

What is the value of cost of goods sold using a perpetual inventory system with the FIFO costing method?

Group of answer choices

$395

$675

$555

$605

None of the above

3)

Beginning inventory	10 units @ $10 per unit
First purchase	35 units @ $11 per unit
First sale		20 units
Second purchase	40 units @ $12 per unit
Second sale		35 units
Third purchase	15 units @ $13 per unit

Five units of the beginning inventory, 10 units of the first purchase, 15 units of the second purchase, and 15 units of the third purchase were not sold. What is the value of the ending inventory using a perpetual inventory system with the specific identification method?

Group of answer choices

$475

$515

$465

$535

$465

4)

Beginning inventory	10 units @ $101 per unit
First purchase	30 units @ $105 per unit
First sale		20 units
Second purchase	35 units @ $115 per unit
Second sale		35 units
Third purchase	16 units @ $120 per unit

What is the total value of the ending inventory using a perpetual inventory system with the weighted average costing method?

Group of answer choices

$3,978.00

$6,063.75

$4,140.00

$3,744.00

$6,325.00