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28.)

Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers:

Date	Transaction	Number of Units	Cost per Unit
1/1	Beginning Inventory	220	$920
5/5	Purchase	320	$1,020
8/10	Purchase	420	$1,120
10/15	Purchase	260	$1,170

During the year, Lauer sold 1,050 laptop computers. What was cost of goods sold using the LIFO cost flow assumption?

	$1,121,779.
	$1,112,500.
	$1,147,000.
	$1,104,500. 9.) 29. Maxim Corp. has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 265 $153 6/5 Purchase 465 $173 11/10 Purchase 165 $213 During the year, Maxim sold 530 units. What is ending inventory using the average cost method? (Do not round intermediate computations.) $78,445. $65,675. $80,445. $63,675. 30. Moore Company purchased an item for inventory that cost $20 per unit and was priced to sell at $30. It was determined that the replacement cost is $18 per unit. Using the lower of cost or market rule, what amount should be reported on the balance sheet for inventory? $30. $20. $12. $18. 31.) Tinker

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