Question: QUESTION 18 2 points Save Ansv Hocus Pocus Company started business in 2020 uses the perpetual inventory method. Hocus purchased 500 units of inventory that

QUESTION 18 2 points Save Ansv Hocus Pocus Company started business in 2020 uses the perpetual inventory method. Hocus purchased 500 units of inventory that cost $4.00 each. At a later date the company purchased an additional 600 units of inventory that cost $4.50 each. If Hocus uses a LIFO cost flow method and sells 800 units of inventory the amount of ending inventory appearing on the balance sheet at the end of year 2020 will be: a. $1,350. b. $1,400 C. $1,450 d. $1,200 QUESTION 19 2 points Save A Which one of the following financial statements does not report amounts primarily on an accrual basis? a. Balance sheet b. Statement of shareholders' equity OC. Income statement d. Statement of cash flows

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