Question: QUESTION 1 Use the following data for the next 4 questions VU Co. uses a periodic inventory system. The beginning inventory and purchases of a

QUESTION 1 Use the following data for the next 4 questions VU Co. uses a periodic inventory system. The beginning inventory and purchases of a particular product during the year are shown below: Date Units Jan. 1 Apr. 18 Aug. 10 Item Beginning inventory Purchase Purchase Purchase Goods Available for Sale 600 500 700 Price $9.00 $9.50 $10.00 $10.25 Total Cost $5,400 4,750 7,000 2,050 $19,200 Oct. 2 200 2,000 Sales during the year consisted of 1,100 units at $20 each. Refer to the above data. Compute the cost of the ending Inventory based on the FIFO method of inventory valuation. A $10,150 B. $8,250 c. $10,950 D. $9,050 QUESTION 2 Click Save and Submit to save and submit. Click Save All Answers to save all answers

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