Hi , I need help with this question please.

Question 16 (1 point)

If goods in transit are shipped FOB destination,

Question 16 options:

1)	the seller has legal title to the goods until they are delivered.

2)	the buyer has legal title to the goods during transit.

3)	the transportation company has legal title to the goods while the goods are in transit.

4)	no one has legal title to the goods until they are delivered.

Question 17 (1 point)

A company just starting business made the following four inventory purchases in June:

Date Number of Units Total Cost June 1 180 $576 June 10 240 792 June 15 240 816 June 28 180 630

On June 25, the company made its first sale when a local customer purchased 600 units for $4,200. The company uses a perpetual inventory system.

Using the FIFO cost method, the cost of the ending inventory on June 30 is

Question 17 options:

1)

$774.

2)

$1,980.

3)

$834.

4)

$2,040.

Question 18 (1 point)

A company just starting business made the following four inventory purchases in June:

Date Number of Units Total Cost June 1 180 $576 June 10 240 792 June 15 240 816 June 28 180 630

On June 25, the company made its first sale when a local customer purchased 600 units for $4,200. The company uses a perpetual inventory system.

Using the FIFO cost method, the amount of the cost of goods sold for June is

Question 18 options:

1)

$1,980.

2)

$2,040.

3)

$834.

4)

$774.

Question 19 (1 point)

A company just starting in business purchased three merchandise inventory items at the following prices. March 2, $150; March 7, $160; and March 15, $180. If the company sold two units for $250 each on March 10 and March 20, and used the FIFO cost formula in a perpetual inventory system, the gross profit for March would be

Question 19 options:

1)

$200.

2)

$190.

3)

$180.

4)

$150.

Question 20 (1 point)

A company just starting a business purchased three inventory items at the following prices: March 2, $150; March 7, $160; and March 15, $180. If the company sold one unit for $230 on March 10 and one unit for $250 on March 20 and uses the average cost formula in a perpetual inventory system, what is the cost of ending inventory?

Question 20 options:

1)

$163.34

2)

$167.50

3)

$180.00

4)

$250.00

Question 21 (1 point)