Assume that Widgets, Inc. uses a perpetual 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 purchases. Calculate the dollar value of its cost of goods sold for the period.  DateActivity Jan 1Beginning Inventory10 @ $12Jan 5Purchase10 @ $15Jan 29Purchase10 @ $18Jan 30Sale14 unitsMultiple choice question.$140$246$210$204

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

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

A company's inventory records report the following in November of the current year: Date Activities Units Acquired at Cost Units Sold at RetailNovember 1 Beginning inventory 5 units @ $28 = $140  November 2 Purchase 10 units @ $30 = $300  November 8 Sales   12 units @ $62November 12 Purchase 6 units @ $33 = $198  Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold?Multiple Choice$334$356$378$244$282

Assume that Toy-Cars Inc. uses a periodic specific identification inventory system. Its ending inventory consists of 2 cars from beginning inventory, 4 cars from the Jan. 5 purchase, and 10 cars from the Jan. 30 purchase. Calculate the dollar value of its ending inventory, based on the information provided below.  DateActivity Jan 1Beginning Inventory10 cars @ $12Jan 5Purchase10 cars@ $15Jan 30Purchase10 cars@ $18Multiple choice question.$160$264$450$186

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)