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SiCo begins operations in 20X2 and uses the periodic method. Sico's December 31, 20X2 ending inventory consists of 400 units bought in January, 20X2 $11. Its December 31, 20X3 ending inventory consists of 1, 300 units. During January, 20X3, SiCo buys 1, 800 units $14; in July, it buys 2, 200 units $17; and in October, it buys 2, 300 units $13. If SiCo uses LIFO, its 20X3 costs of goods sold is. .. $80,000 $79, 900 $80,000 $78, 700 Use the following information for problems 30-33. LuCo begins operations in 20X4 and uses the periodic method and LIFO costing. Its merchandise purchases are as follows: 20X4 20X5 20X6 March 300 $4 600 $8 900 $11 July 500 $5 900 $12 600 $14 September 200 $7 100 $9 700 $13 November 400 $6 700 $10 100 $16 If Luco sells 900 units in 20X4, its December 31m 20X4 ending inventory of 500 units is... $2,000 $3,000 $2, 200 $3, 100 If, instead, Luco's has 200 units in its December 31, 20X4 ending inventory and 500 units in its December 31, 20X5 ending inventory, then its December 31, 20X5 inventory is... $3, 200 $4,000 $5,000 $2, 200 Assume, instead, that LuCo's December 31, 20X4 ending inventory is 300 units; its December 31, 20X5 ending inventory is 200 units (which is lower than is 20X5 beginning inventory); and its December 31, 20X6 ending inventory is 700 units. What is LuCo's December 31, 20X6 inventory? $7, 700 $4, 400 $5, 600 $6, 300 Assume, instead, that LuCo's December 31, 20X4 ending inventory is 300 units; its December 31, 20X5 ending inventory is 800 units; and its December 31. 20X6 ending inventory is 600 units (which is lower than its 20X6 beginning inventory). What is LuCo's December 31, 20X6 ending inventory? $6, 600 $4, 800 $4, 400 $3, 600 When WeCo begins operations in 20X4, it chooses the periodic method and LIFO costing. Within a given year's LIFO layer, it uses weighted average costing. During 20X4, WeCo makes the following merchandise purchases; May 30 400 @ $4 June 24 800 @ $5 October 11 900 @ $7 December 4 1, 400 @ $6 If the December 31, 20X4 ending inventory is 1.000 units, and the December 31, 20X5 ending inventory is 300 units, what is the 20X5 ending inventory? $1, 200 $1, 380 $1, 740 $1, 800

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