Question
Baker Bakery Company just began business and made the following four inventory purchases in June: June 1 150 units at $5.20=$ 780 June 10 200
Baker Bakery Company just began business and made the following four inventory purchases in June:
June 1 150 units at $5.20=$ 780 June 10 200 units at $5.85 =1,170 June 15 200 units at $6.30 =1,260 June 28 150 units at $6.60= 990
A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is
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| A. $1300 |
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| B. $1365 |
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| C. $1620 |
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| D. $1650 |
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The Audit Process Principles Practice And Cases
Authors: Stuart Manson, Iain Gray, Iain G. Sheffield, I.H. Gray, I. Etal Gray
2nd Edition
1861520107, 9781861520104
