Please mark the correct answer by deleting the wrong answers One answer is correct for each problem, be sure to complete all 4 questions 1. Assume a company sold the following items in January for $10 each: 3 items on January 3 with a unit cost of SS 5 items on January 15 with a unit cost of $5.50 8 items on January 22 with a unit cost of $6.50 What is the cost of goods sold expense for January assuming the specific identification method is used? 2594.50 $90.67 S104 4565.50 2. Assume a company sold the following items in January for $10 each: 1 item on January 3 with a unit cost of $5 1 item on January 15 with a unit cost of $5.50 1 item on January 22 with a unit cost of $6.50 What is the cost per unit for January assuming the weighted average method? - $5.67 $5.50 SS $6.50 3. Ellie Inc. sold 6 similar items in February for $15 each. The company started with 3 items in inventory that cost SS. The following purchases were made during February 2 items were purchased on February 3 with a unit cost of $8 1 item on February 15 with a unit cost of $8.50 4 items on February 22 with a unit cost of $7.50 What is the cost of goods sold using the FIFO method? $90 S47 S43.50 S39.50 4. Linden started the month with 10 items in inventory with a total cost of $3,000. On February 21 it purchased 10 items with a total cost of $4,000. If the company uses LIFO, what is the cost of goods sold if 11 items were sold in February? $4,000 $3,850 $3,500 4 $4,300