Question
28. Buss Retail Company sells antique replica trunks to customers all over the world. Buss' inventory records show the following. Quantity (units) Cost each Beginning
28. Buss Retail Company sells antique replica trunks to customers all over the world. Buss' inventory records show the following.
|
| Quantity (units) | Cost each |
| Beginning Inventory | 200 | 1,055 |
| Purchases: |
|
|
| 3-Jun | 170 | 1,062 |
| 18-Sep | 190 | 1,070 |
| 10-Dec | 160 | 1,076 |
Buss sold 470 units this year. Buss' accounting policy for Inventories valuation is FIFO (First-in; First out) Method. How much should be the ending inventories at the end of the year?
a. 268,040
b. 267,500
c. 268,460
d. 269,000
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Taxation Of Individuals And Business Entities 2015
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
6th Edition
9780077862367
