Dear Chegg mates I really need your help with question 12 and 13. Would be glad if someone can explain it to me.

Cole, Inc. uses perpetual inventory procedures and made the following sales and purchases during the month of September: September 1 Balance 200 units $150/unit September 5 Sold 110 units September 8 Purchased 400 units $ 155/unit September 10 Sold 320 units September 15 Purchased 400 units $ 160/unit September 20 Sold 240 units September 25 Sold 230 units September 30 Purchased 300 units 8165/unit 11. A physical count of the inventory on September 30 reveals that there are 400 units on hand. Using a FIFO cost flow assumption, the value of the ending inventory on August 31 is: a) $60,000 b) 866,000 c) 865,500 d) 864,550 Page 14 of 23 Revised Fall 2012 12. A physical count of the inventory on September 30 reveals that there are 400 units on hand. Using a LIFO cost flow assumption, the value of the ending inventory on August 31 is: a) $ 64,550 b) 865,500 c) 861,000 d) $60,000 13. A physical count of the inventory on September 30 reveals that there are 400 units on hand. Using a LIFO cost flow assumption, determine the cost of goods sold: a) 8140,000 b) 8 144,500 c) $ 140,950 d) $141,750