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Mosher, Inc ad the following balances and transactions during 2017:

Beginning Merchandise Inventory as of January 1, 2017 100 units at $82 March 10 Sold 70 units June 10 Purchased 200 units at $85 October 30 Sold 170 units What would be reported for Ending Merchandise Inventory on the balance sheet at December 31, 2017 if the perpetual inventory system and the first-in, first-out inventory costing method are used? A) $5,740 B) $17,000 C) $5,100 D) $8,200

The production cost report for Department 2 shows that $454,000 was assigned to the 50,000 units transferred to Finished Goods Inventory. Cost of goods manufactured equals $454,000

Indicate whether the statement is true or false