Question 9 (1 point) Use the following inventory information for the month of May to answer the question(s) below. May 1 Beginning inventory 20 units @ $38 Purchase 70 units @ $40 Sale 25 units Purchase 10 units @ $44 Sale 40 units 7 What is ending inventory under the specific identification method? 1) $1,360 2) $1,400 3) $1,440 4) More information is needed Question 10 (1 point) Saved Use the following inventory information for the month of April to answer the question(s) below. April 1 Beginning Inventory 10 units @ $120 Purchase 60 units @ $112 14 Sale 40 units Purchase 30 units @ $116 Sale 28 units Assuming that a perpetual inventory system is used, what is ending inventory on a LIFO basis? O 1) $2,880 2) $3,672 3) $5,120 4) More information is needed Question 11 (1 point) Saved Depreciation refers to the periodic allocation of the cost of a tangible long-lived asset over tis estimated useful life. 1) True 2) False