For each Multiple Choice question, prepare a 2-3 sentence description, that explains why the answer is correct (or alternatively why the others are wrong).

Procter & Gamble's June 30, 2011, financial statements reported the following (in millions): Cash, beginning of year $ 2,879 Cash, end of year 2,768 Cash from operating activities 13,231 Cash from investing activities (3,482) What did Procter & Gamble report for Cash from financing activities for the year ended June 30, 2011? A) $(12,628) million B) $ 15,396 million C) $(15,396) million D) $9,860 million E) $19.860 million Montana Engineering and Design had the following inventory in fiscal 2012. Beginning Inventory, August 1, 2011: 140 units @ $19.50 Purchase 300 units @ $19.00 Purchase 50 units @ $20.00 Purchase 120 units @ $20.30 Ending Inventory, July 31, 2012: 130 units If Montana Engineering and design uses the FIFO method of accounting for inventory, the company's cost of goods sold for fiscal 2012 is: A) $9.230 B) $2,636 C) $9,331 D) $11,866 E) None of the above Montana Engineering and Design had the following inventory in fiscal 2012. Beginning Inventory, August 1, 2011: 140 units @ $19.50 Purchase 300 units @ $19.00 Purchase 50 units @ $20.00 Purchase 120 units @ $20.30 Ending Inventory, July 31, 2012: 130 units If the Montana Engineering uses the LIFO method of accounting for inventory, the company's cost of goods sold for fiscal 2012 is: A) $9,230 B) $2,636 C) $11,866 D) $9,331 E) None of the above