Question
Blueberry Ltd uses the FIFO assumption with the periodic inventory method. Units Unit Cost $ Total Cost $ Beginning Inventory 8 12 96 Purchases 15
Blueberry Ltd uses the FIFO assumption with the periodic inventory method.
| Units | Unit Cost $ | Total Cost $ | |
| Beginning Inventory | 8 | 12 | 96 |
| Purchases | 15 | 14 | 210 |
| Purchases | 23 | 15 | 345 |
Sales during year were 18 units. The value of closing stock at the end of the period is:
| A. | $651 | |
| B. | $236 | |
| C. | $336 | |
| D. | $415 |
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Cengage Learnings Online General Ledger For Heintz/parrys College Accounting, 2, 2 Terms (12 Months)
Authors: James A. Heintz, Robert W. Parry
22nd Edition
1305669991, 9781305669994
