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23. The following information is available for Montrose Company at December 31 $8,540 $250 $10,400 Cash in bank account Petty cash Money market fund balance Checks from customers NSF checks from customers returned by bank Treasury bill maturing in 60 days Money orders Anine-month certificate of deposit maturing on March 31 of next year $805 $10.000 Based on this information, the amounts considered Cash and Cash Equivalents, respectively on December 31 are: O O O O Cash $11,235, Cash equivalents $26,400 Cash $8,540; Cash equivalents $22.290 Cash $8,790, Cash equivalents $26.400 Cash $19,190 Cash equivalents $16,000 O Cash $10.430: Cash equivalents $20.400 Type here to search RE 28. Arcoming reports a document used within a company to not the pote nstorded o ver ved and describe the qua n d condition of the goods O True O False Salmone Company reported the following purchases and sales for its only product Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO Date Activities Units Sold at Retail May Hegning ventory 5 Purchase 10 Sales 15 Purchase Units Acquired at Cost 150 units $10.00 220 units $12.00 140 $2000 100 units $13.00 S00 O $2100 O $1860 O $3,180 O $3,580 O $2,260 On December 31 of the current year Plunkent Company reported an ending inventory balance of $215.000 The following additional information is a vailable - Plurke sold and shipped goods costing $38,000 to Savannah Enterprises on December 28 with shipping terms of FOB shipping point. The goods were not included in the ending inventory amount of $215.000 - Plunkelt purchased goods costing $44,000 on December 29 goods were shipped Hoe destination and were receved by Punerton Andy 2 of the following year h e was a rush order was supposed to tre by December 31 These goods were used in the ending inventory balance of $275,000 Plunko's ending inventory balance of $215.000 included $6.000 of goods being held on cons e nt from Carole Company P et Company is the consignee) Plunkett's ending inventory balance of $215.000 did not ride s that werepped to Pu December 27 with s ides of FOB destination and were still in transitat Based on the above information, the amount that O $19.000 5171000 O O $209,000 5156 000 $200,000 22. An error in the period-end inventory balance will cause an error in the calculation of cost of goods sold. O False

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