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Chapter 6 MULTIPLE CHOICE Instructions: Circle the best answer for each of the following questions...

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Accounting

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Chapter 6 MULTIPLE CHOICE Instructions: Circle the best answer for each of the following questions 1. The following units of a particular item were purchased and sold during the period Beginning inventory.. First purchase Safe. 10 units at S5 15 units at $6 10 units 10 units at $7 Sale Third purchase Sale... What is the total cost of the 15 units on hand at the end of the period, as determined under the perpetual inventory system by the lifo costing method? 8 units? 15 units at $8 5of S 17 units $80 b. $90 c. $100 d. $120 2. Assuming the data given in No. 1, determine the total cost of the 15 units on hand at the end of the period assuming a perpetual inventory system and the fifo costing method a. $80 b. $90 c. $100 d $120 3. Assuming the data given in No. 1, determine the total cost of the 15 units on hand at the end of the period assuming a periodic inventory system and the lifo costing method. a. $80 b. $90 c. $100 d. $120 4. Assuming the data given in No. 1, determine the total cost of the 15 units on hand at the end of the period assuming a periodic inventory system and the fifo costing method. a. $80 b. $90 c. $99 d. $120

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