Question
Alpha First Company just began business and made the following four inventory purchases in June: June1150 units$780 June10200 units1,170 June15200 units1,260 June28150 units 990 $4,200
Alpha First Company just began business and made the following four inventory purchases in June:
June1150 units$780
June10200 units1,170
June15200 units1,260
June28150 units990
$4,200
A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. The value of the ending inventory calculated using FIFO(Periodic Inventory System), on June 30 is:
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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
