Queso Compeu JALUS. QUESTION 1 3.33333 On January 1, 2016 Oxford Company had 3,500 units in inventory at a cost of $9 per unit. During 2016 Oxford company purchased 3,000 units (Lot #1 - the first units purchased during the year) at a cost of $9.50 per unit, 2,000 units (Lot #2) at a cost of $10.50 per unit and 2,500 units (Lot #3) at a cost of $10 per unit. The company sold 8,700 units during 2016 at a sales price of $1225 per unit. If Oxford Company uses a periodic inventory system and the first-in-first-out (FIFO) method, then what is the company's ending inventory for December 31, 2016? a $20,700 O b. $22,164 OC $22,739 O d. $23,000 QUESTION 2 3.3333 Why is the figure for operating profit important? a. This is the figure used to calculate the firm's federal income tax expense. The figure for operating profit provides a basis for assessing the success of a company apart from its financing and investment "activities and separate from its tax status. OC. The operating profit figure includes all operating revenues and expenses as well as interest and taxes related to operations. d. The figure for operating profit provides a basis for assessing the wealth of a firm. b. Save All An Click Save and Submit to save and submit. Click Save All Answers to save all answers. Case 5- Build A....pdf A