Question 5Please use this information for Question 5 - 9:School’s back in session and Stan at ‘The Bizzy Bee’ has sold 85 of his Fidget Bands this week alone, and at the end of September, he had sold 142 total. He purchased 500 of them in August at $1,200 including shipping, and he is selling them for $12.99 each.   What is the purchase cost (or inventory value cost) for those 500 units before any sales? (Format your answer as $x,xxx)

Assume that Widgets, Inc. uses a periodic specific identification inventory system. During the period, it sold 4 units from beginning inventory, 8 units from the Jan. 5 purchase, and 2 units from the Jan. 29 purchase. Calculate the dollar value of its cost of goods sold for the period based on the information provided below.   DateActivity Jan 1Beginning Inventory10 @ $12Jan 5Purchase10 @ $15Jan 29Purchase10 @ $18Jan 30Sale14 unitsMultiple choice question.$140$210$204$246

A company's inventory records report the following: Date Activities Units Acquired at Cost Units Sold at RetailAugust 1 Beginning inventory 15 units @ $38 = $570  August 5 Purchase 10 units @ $39 = $390  August 12 Purchase 20 units @ $40 = $800  August 15 Sales   30 units soldUsing the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?Multiple Choice$400$290$600$1,160$1,760

On May 1, there were 4 inventory items that cost $30 each. On May 5, 2 items were purchased for $35 each. Given one item from the beginning inventory and one from the May 5 inventory were sold, under the inventory method, cost of goods sold would equal $65.

Grays Company has the following purchases and sales during the month of August. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 12 units that were sold? Date Activities Units Acquired at Cost Units Sold at RetailAugust 1 Beginning inventory 10 units @ $44 = $440  August 3 Purchase 20 units @ $46 = $920  August 6 Sales   12 units soldMultiple Choice$502.$504.$532.$548.$460.

Assume that Q-Mart uses a periodic LIFO inventory system. During the year, it sold 14 units. Calculate the dollar value of its cost of goods sold for the period.  DateActivity Jan. 1Beginning Inventory10 @ $12Jan. 5Purchase10 @ $15Jan. 30Purchase10 @ $18Feb. 8Sale14 unitsMultiple choice question.$240$210$150$180