Question 1)

SlickCo, which uses the periodic method and FIFO costing, begins operations in 20X1 and makes the following purchases during 20X1 and 20X2:

20X1	Units	Unit Cost
March	450	$3.00
August	650	$3.50
20X2
February	550	$4.00
October	250	$5.00

If SlickCo sells 900 units in 20X1 and again in 20X2, the COGS for 20X2 will be:

$2,975

$2,925

$3,800

$3,450

$3,650

Question 2) Under FIFO costing:

		COGS reflects the cost of the items purchased earliest.
		COGS reflects the cost of the most recently purchased items.
		COGS reflects the cost of items from the earliest and most recent purchases.

Question 3)

TuCo, which uses the periodic method and FIFO costing, makes the following purchases during the year:

March	700 widgets at $7.00 each
June	900 widgets at $8.00 each
September	200 widgets at $9.00 each

The company did not have a beginning inventory. If a year-end physical count shows 400 widgets on hand, TuCos balance sheet will report inventory of:

$11,100

$3,400

$3,200

$10,500

$2,800

Question 4) TDS Company uses a perpetual inventory system. It entered into the following purchase and sale transactions for April:

Date	Activity	Units acquired at cost	Units sold at retail
April 1	beginning inventory	20 units @ $3,000/unit
April 5	purchase	30 units @ $3,500/unit
April 9	sale		35 units @ $12,000/unit
April 18	purchase	5 units @ $4,500/unit
April 25	purchase	10 units @ $4,800/unit
April 29	sale		25 units @ $14,000/unit
	TOTALS	65 units	60 units

Compute the ending inventory for the month using FIFO:

$211,500
		$24,000
		$220,500
		$20,000
		$215,500
		$15,000

Question 5) GlynnCo, a 20X1 start-up that uses the periodic method and weighted-average costing, makes the following merchandise purchases:

20X1	Units	Unit cost
March	400	$3.00
August	600	$3.50
20X2
February	550	$4.00
October	100	$5.05

At the end of 20X1, there are 350 units in ending inventory. If, in 20X2, GlynnCo sells 800 units, what is the 20X2 ending inventory?

$777.50
		$772
		$768.50
		$832.31
		$905

Please solve the total five questions and don't spare any of these, you can take your time but please don't spare the question as It is very very urgent. I will upvote you if you solve all of these correctly.