Question: 8 . - Ending inventory - under FIFO is: A ) $ 4 3 8 B ) $ 8 4 6 C ) $ 4

8.-Ending inventory-under FIFO is:
A) $438
B) $846
C) $421
D) $863
9. Ending inventory under LIFO is:
A) $438
B) $421
C) $846
D) $863
10. Assuming that the specific identification method is used and that ending inventory consists of 15 units from each of the three purchases and 5 units from the November 1 inventory, cost of goods sold is:
A) $427
B) $857
C) $854
D) $836
Use the following to answer questions 11-14
Ace Industries had the following inventory transactions occur during 2016:
\table[[2/1/2016,Purchase,Units18,Cost/unit],[3/14/2016,Purchase,31,$45
 8.-Ending inventory-under FIFO is: A) $438 B) $846 C) $421 D)

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