Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Use this information to answer the question that follow. Sep. 1 Inventory 4 Sold 10 Purchased 17 Sold 30 Purchased 20 units at $20 10 units 30 units at $25 20 units 10 units at $30 If Addison uses LIFO, the cost of the ending inventory on September 30 is $650 $700 $800 $750 The following lots of a Commodity P were available for sale during the year. Use this information to answer the question. Beginning inventory 5 units at $61 First purchase 15 units at $63 Second purchase 10 units at $74 Third purchase 10 units at $77 The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of cost of goods sold for the year according to the LIFO method? a $1,510 b. $1,375 c. $1,250 X d. $1,380 The inventory data for an item for November are: Nov. 1 Inventory 4 Sold 10 Purchased 17 Sold 30 Purchased 20 units at $19 10 units 30 units at $20 20 units 10 units at $21 Using a perpetual system, what is the cost of the goods sold for November if the company uses FIFO? X $590 $610 $600 $580 Which of the following would not be included with the cash and cash equivalents on the balance sheet? money market mutual funds commercial paper short-term receivables cash short and over Procedures designed to protect cash from theft and misuse from the time it is received until it can be deposited in a bank are called cash controls accounting controls GAAP controls FASB controls