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A company's inventory records report the following: Units Sold at Retail Date Aug. 1 Aug. 5 Aug. 12 Aug. 15 Activities Beginning inventory Purchase Purchase Sales Units Acquired at Cost 15 units @ $38 = $570 10 units @ $39 = $390 20 units @ $40 = $800 30 units sold Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale? Multiple Choice $400 O $290 O O $600 $1,160 O $1.760 TB MC Qu. 07-80 (Static) The Accounts Payable controlling... The Accounts Payable controlling account: Multiple Choice Increases the number of columns in the journals. Is not included in a company's chart of accounts. Reduces the number of entries in the general journals. Equals the sum of all balances of supplier accounts Stores the transaction data of individual supplies, Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: Units Sold at Retail Date Aug. 2 Aug. 18 Aug. 29 Activities Purchase Purchase Sales Units Acquired at Cost 10 units @ $46 = $460 15 units @ $48 = $720 12 units sold What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.) Multiple Choice $556.00 O $1,180.00 O $566.40 O O $150.50 O $720.00

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