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Question 7 Assume Emma Co has the following purchases of inventory during the first month of operations Number of Units Cost per unit First Purchase 54 2 Second Purchase 91 4.3 Assuming Emma Co sells 89 units at $14 each, what is her cost of goods sold if they use FIFO? Question 8 Bodie Bear, Inc. uses a periodic inventory system. At the end of the January 31, 2017, the accounting records for the Transactions Units Unit Cost Beginning Inventory, Jan 1 350 $1 Purchases January 10 450 $4 Purchase, January 30 200 $7 Bodie Bear sells the units for $20 each. At the end of the period, Bodie Bear has 180 units remaining in inventory. What is value of the ending inventory if Bodie Bear uses the FIFO method? Question 7 O out of 0.75 Assume Emma Co has the folowing purchases of inventory during the first month of operations Number of Units Cost per unit First Purchase 54 2 Second Purchase 91 43 Assuming Emma Co sells 89 units at $14 each, what is he cost of goods sold they FF07 Question 8 Dout of 5 por Bodie Bear, Ino uses a periodic inventory system Altend of January 31, 2017 the accounting records for the most popular item in inventory showed the following: Transactions Unit Unt cost Beginning inventory, Jan 1 $1 Purchases January 10 450 $4 Purchase, January 30 200 $7 Bodie Bear sells the units for $20 each At the end of the period, Bodio Boor has 180 units remaining in inventory What is value of the ending inventory & Bodie Bear uses the FIFO method? 350

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