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Ayayai Corp. just began business and made the following four inventory purchases in June: June 1 141 units $980 June 10 188 units 1470 June
Ayayai Corp. just began business and made the following four inventory purchases in June:
June 1 | 141 units | $980 | ||
June 10 | 188 units | 1470 | ||
June 15 | 188 units | 1580 | ||
June 28 | 141 units | 1240 | ||
$5270 |
A physical count of merchandise inventory (rounded to whole dollar) on June 30 reveals that there are 200 units on hand. The inventory method which results in the highest gross profit for June is
the average cost method.
the LIFO method.
not determinable.
the FIFO method.
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