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23. Concho Co. uses a periodic inventory system and has the following information in regard...

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23. Concho Co. uses a periodic inventory system and has the following information in regard to its inventory eginning inventory Purchase on March 15 Purchase on October 2 Ending Inventory There are 400 units in ending inventory. What is the amount reported on the Balance Sheet 300 units a 15 500 units a 16 200 units (@ 17 200 units@ 18 400 units $4,500 8,00 3.400 3,600 for ending inventory using the Weighted Average Cost method? A. $7,000 B. $7,200 C. $6,100 S6,600 6,500 24. When the lower of cost or market rule requires an inventory adjustment, the write-down does not affect any of the financial statements. write-down is usually reported as a part of cost of goods sold. C. inventory adjustment is recorded as a debit in a contra-account called Inventory Allowances. D. adjustment usually, but not always, reduces the book value of inventory. 25. At year end, CurlZ, Inc.'s inventory consists of 200 bottles of CleanZ at a cost of S1 per bottle and 100 boxes of DyeZ at a cost of S10 per box. Market values (net realizable values) are $1.20 per bottle for CleanZ and $8 per box for DyeZ. CurlZ should report its inventory at: $1,240 $1,000. C. $1,200 D. $1,040

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