he ABC Co. uses the periodic inventory method, and the following information is available to answer questions 19 to 22. Beginning inventory 200 at $10 1st purchase 300 at $11 2nd purchase 300 at $12 Units sold during the year 300

19. The cost of goods sold under FIFO is: a. $5,300.00 b. $3,600.00 c. $3,337.50 d. $3,100.00 e. None of the above

20. The ending inventory under LIFO is: a. $4,900.00 b. $5,300.00 c. $5,562.50 d. $5,800.00 e. None of the above 21. The ending inventory under the weighted-average method is: a. $5,800.00 b. $5,562.50 c. $5,500.00 d. $5,300.00 e. None of the above

22. Assuming prices continue their present trend (see previous data), which of the following methods would tend to yield the smallest income tax over the years? a. LIFO b. FIFO c. weighted-average d. FIDO e. FIFI