2. Roki Inc. uses the periodic inventory system. June 1 On hand, 50 units @ $15.00 each $ 750.00 5 Purchased 115 units

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2. Roki Inc. uses the periodic inventory system.
June
1
On hand, 50 units @ $15.00 each
$ 750.00
5
Purchased 115 units @ $15.10 each
1,736.50
14
Purchased 75 units @ $15.20 each
1,140.00
Total cost of goods available for sale
$3,626.50
30
On hand, 90 units
​
If Roki uses the FIFO inventory method, the amount assigned to the June 30 inventory would be
a.
$1,354.00
b.
$1,590.42
c.
$1,594.00
d.
$1,366.50
3. Roki Inc. uses the periodic inventory system.
June
1
On hand, 50 units @ $15.00 each
$ 750.00
5
Purchased 115 units @ $15.10 each
1,736.50
14
Purchased 75 units @ $15.20 each
1,140.00
Total cost of goods available for sale
$3,626.50
30
On hand, 90 units
​
If Roki uses the weighted average cost inventory method, the amount assigned to the June 30th inventory would be
a.
$1,359.90
b.
$1,549.00
c.
$1,486.50
d.
$1,591.50
4. Roki Inc. uses the periodic inventory system.
June
1
On hand, 50 units @ $15.00 each
$ 750.00
5
Purchased 115 units @ $15.10 each
1,736.50
14
Purchased 75 units @ $15.20 each
1,140.00
Total cost of goods available for sale
$3,626.50
30
On hand, 90 units
​
If Roki uses the LIFO inventory method, the cost of goods sold for June would be
a.
$2,200.00
b.
$2,272.50
c.
$2,296.08
d.
$1,354.00
5. Roki Inc. uses the periodic inventory system.
June
1
On hand, 50 units @ $15.00 each
$ 750.00
5
Purchased 115 units @ $15.10 each
1,736.50
14
Purchased 75 units @ $15.20 each
1,140.00
Total cost of goods available for sale
$3,626.50
30
On hand, 90 units
​
How many units did Roki, Inc. sell during June?
a.
90
b.
100
c.
150
d.
50
6. A company using the periodic inventory system has the following account balances: Merchandise Inventory at the beginning of the year, $3,600; Freight-In, $650; Purchases, $10,700; Purchases Returns and Allowances, $1,950; Purchases Discounts, $330. The cost of merchandise purchased is equal to
a.
$8,420
b.
$17,230
c.
$12,670
d.
$9,070