Additional Exercise 194 Gray Company uses the periodic inventory system to account for inventories. Information related to Gray Company's inventory at October 31 is given below: October Beginning inventory 400 units @ $9.80 = $3,920 800 units $10.408,320 600 units$10.806,480 200 units @ $11.80= 2,360 $21,080 1 8 Purchase 16 Purchase 24 Purchase Total units and cost 2,000 units Value the ending inventory using the FIFO cost assumption if 550 units remain on hand at October 31 Ending Inventory Value the ending inventory using the weighted-average cost method if 550 units remain on hand at October 31. Ending Inventory Value the ending inventory using the LIFO cost assumption if 550 units remain on hand at October 31. Ending Inventory s By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Question Attempts: 0 of 2 used