Question
12. Concord Company's inventory records show the following data: Units Unit Cost Inventory, January 1 9300 $7.00 Purchases:June 18 9900 7.70 November 8 6900 8.00
12.
Concord Company's inventory records show the following data:
Units Unit Cost
Inventory, January 1 9300 $7.00
Purchases:June 18 9900 7.70
November 8 6900 8.00
A physical inventory on December 31 shows 6900 units on hand. Under the FIFO method, the December 31 inventory is
53322.
$48300.
$55200.
$53130.
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Cornerstones of Managerial Accounting
Authors: Maryanne M. Mowen, Don Hanson, Dan L. Heitger, David McConomy, Jeffrey Pittman
2nd Canadian edition
978-0176721237, 978-0176530884
