Question: C 1. Using the LIFO cost method, if the total cost of the goods available for sale is 25,000 and the cost of the ending

C 1. Using the LIFO cost method, if the total cost

C 1. Using the LIFO cost method, if the total cost of the goods available for sale is 25,000 and the cost of the ending inventory is 20.000, how much is the cost of goods sold? A . 25,000 B 20,000 C C D C. 15,000 . 10,000 E. None of the above r 2. Co. A has the following units of purchases, total sales for the year and ending inventory: Purchase 6/1 500 units at $15 each, Purchase 9/1 400 units @ 20 each, and total sales for the year 400 units and ending inventory 600. How many units are in beginning inventory? A. 500 CB. 400 C. 300 D. 200 E. None of the above which method 3. Of the four inventory methods FIFO, LIFO, Average Cost and Specific Identification means the "last item that is bought is the first item sold? A. FIFO B. LIFO C. Average Cost D. Specific Identification C C 4. Co. F has the following units of beginning inventory and purchases for the year: beginning inventory 100 units at $30 each, a 2/28 Purchase 200 units at $40 each and a 6/15 purchase of 200 units at $50 each and a 12/15 purchase of 100 units at $70 each. Using the LIFO method, if the ending inventory is 200 units, what is the cost of the ending inventory? A . 14.000 B. 12,000 C . 7,000 D. 6,000 E. None of the above C 5. Co. Y has the following beginning inventory, purchases and ending inventory: Beginning inventory 300 units at $10 each, Purchase 6/1 300 units at $15 each, Purchase 9/1 300 units @ 20 each, and ending inventory 400 units. What is the average cost per unit of the total units available for sale during the year? A. $25 CB. $20 CC. $15 D. $10 E. None of the above

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