1-4) A company had the following purchases and sales during itsfirst year of operations:

	Purchases	Sales
January:	10 units at $120	6 units
February:	20 units at $125	5 units
May:	15 units at $130	9 units
September:	12 units at $135	8 units
November	10 units at $140	13 units

On December 31, there were 26 units remaining in endinginventory. Using the PERPETUAL LIFO inventoryvaluation method, what is the cost of the ending inventory? (Assumeall sales were made on the last day of the month.)

A) $3,405

B)$3,270

C)$3,364

D)$5,400

On December 31, there were 26 units remaining in endinginventory. Using the PERIODIC LIFO inventoryvaluation method, what is the cost of the ending inventory? (Assumeall sales were made on the last day of the month.)

A)$3,405

B)$3,270

C)$3,200

D)$3,364

E)$5,400

On December 31, there were 26 units remaining in endinginventory. Using the PERPETUAL FIFO inventoryvaluation method, what is the value of cost of goods sold? (Assumeall sales were made on the last day of the month.)

A)$8,670

B)$3,540

C)$5,400

D)$5,130

E)$3,270

On December 31, there were 26 units remaining in endinginventory. Using the PERPETUAL LIFO inventoryvaluation method, what is the value of cost of goods sold? (Assumeall sales were made on the last day of the month.)

A)$8,670

B)$5,400

C)$5,470

D)$5,130

E)$5,305

On December 31, there were 26 units remaining in endinginventory. Using the PERIODIC LIFO inventoryvaluation method, what is the value of cost of goods sold? (Assumeall sales were made on the last day of the month.)

A)$8,670

B)$5,400

C)$5,470

D)$3,200

E)$5,130

Answer rating: 100% (QA)

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