Question

1.

A company had inventory on November 1 of 5 units at a cost of$20each. On November 2, they purchased 10 units at $22 each.OnNovember 6 they purchased 6 units at $25 each. On November 8,8units were sold for $55 each. Using the LIFO perpetualinventorymethod, what was the value of the inventory on November 8after thesale?

A) $304 B) $296 C) $288 D) $280 E) $276

2.		Acme-Jones Corporation uses a weighted-averageperpetualinventory system. August 2, 10 units were purchased at $12 per unit. August 18, 15 units were purchased at $14 per unit. August 29, 12 units were sold. What was the amount of the cost of goods sold for this sale?
A)	$148.00.
B)	$150.50.
C)	$158.40.
D)	$210.00.
E)	$330.00.

3.	A company has inventory of 10 units at a cost of $10 each onJune1. On June 3, they purchased 20 units at $12 each. 12 unitsare soldon June 5. Using the FIFO perpetual inventory method, whatis thecost of the 12 units that were sold?

A) $120. B) $124. C) $128. D) $130. E) $140.

4.		Acme-Jones Company uses a weighted-average perpetualinventorysystem. August 2, 10 units were purchased at $12 per unit. August 18, 15 units were purchased at $15 per unit. August 29, 20 units were sold. August 31, 14 units were purchased at $16 per unit. What is the per-unit value of ending inventory on August 31?
A)	$12.00.
B)	$13.80.
C)	$15.42.
D)	$16.00.
E)	$17.74.