A company just starting business made the following four inventory purchases in June. Date Number of units purchased Total cost June 1 100 units $ 260 June 10 250 units 725 June 15 250 units 800 June 28 170 units 578 $2363 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is

Question 7 A company just starting business made the following four inventory purchases in June. Number of units Date purchased Total cost June 1 100 units $ 260 June 10 250 units 725 June 15 800 June 28 170 units 578 $2363 250 units A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is O $1096 O $347. O $674 $1689. Question 9 Oriole Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is 5603000 and credit sales are $2730000. Management estimates that 4% balance before adjustment? accounts receivable will be uncollectible. What adjusting entry will Oriole Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $4500 credit 24120 24120 19620 19620 Bad Debt Expense Allowance for Doubtful Accounts O Bad Debt Expense Accounts Receivable Bad Debt Expense Allowance for Doubtful Accounts Bad Debt Expense Accounts Receivable 19620 19620 24120 24120