Question 7.3 Addison, Inc uses a perpetual inventory system. The following is information about one inventory item for the month of September Sept. 1 Inventory 2 points 4 Sale 10 Purchase 17 Sale 30 Purchase 20 units at $20 10 units 30 units at $25 20 units 10 units at $30 If Addison uses FIFO, the cost of the ending merchandise inventory on September 30 is O $750 O s800 O $700 O s650 8. Multiple Choice Date May 3 Blankets Units Cost $20 Sale 17 20 23 10 24 Sale Sale Purchase x Question 8.1 2 points In the chart above, assuming that the company uses the j LIFO inventory cost method. Note: The blankets are sold for $60 each and there is no O $100 572 O s60 O $90 Date Blankets Units Cost $20 May 3 10 17 20 23 30 Purchase Sale Purchase Sale Sale Purchase 10 24 10 30 Question 8.1 2 points In the chart above, assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 10 using the LIFO inventory cost method. Note: The blankets are sold for $60 each and there is no beginning inventory on May 1. o $100 o $72 O $90 Question 8.2 in the chart above, assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 10 using the FIFO inventory cost method. Note: the blankets are sold for $60 each and there is no beginning inventory on May 1 2 points O $90 O $100 O $72