Question
ABC company has the following inventory information. What amount is the ending inventory if FIFO is used? 1-Jun Beginning Inventory 20 Quantity 2 Price 8-Jun
ABC company has the following inventory information. What amount is the ending inventory if FIFO is used?
1-Jun
Beginning Inventory
20 Quantity
2 Price
8-Jun
Purchase
15 Quantity
3 Price
14-Jun
Sale
25 Quantity
7 Price
20-Jun
Purchase
20 Quantity
4 Price
Select one:
a.55
b.70
c.110
d.170
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Forensic Accounting And Fraud Examination
Authors: Paul Barnes
1st Edition
1118454138, 978-1118454152
