Echo Sound 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 The inventory method which results in the highest gross profit for June is A the FIFO method B The weighted average unit cost Method C The LIFO method D Nor determinable Grape Gratuities Company has the following inventory data July 1 Beginning inventory 20 units at $20 $ 400 7 Purchases 70 units at $21 1,470 22 Purchases 10 units at $22 220 A physical count of merchandise inventory on July 30 reveals that there are 30 units on hand Using the FIFO inventory method, the amount allocated to Cost of Goods Sold for July is A $1450 B $1870 C $1480 D $640 A company just began business and made the following four inventory purchases in June June 1 150 units at $5 50 $ 825 June 10 200 units at $5 60 1,120 June 15 200 units at $5 70 1,140 June 28 150 units at $5 90 885 A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand Using the average cost method, the amount allocated to the ending inventory on June 30 is A $1418 B $1400 C $1425 D $1475 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 A $1300 B $1365 C $1620 D $1650

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Echo Sound Company just began business and made the following four inventory purchases in June: June 1 150 units at $5.20= $ 780 June 10

Echo Sound 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. The inventory method which results in the highest gross profit for June is

A. the FIFO method. B. The weighted average unit cost Method C. The LIFO method D. Nor determinable

Grape Gratuities Company has the following inventory data: July 1 Beginning inventory 20 units at $20= $ 400 7 Purchases 70 units at $21 = 1,470 22 Purchases 10 units at $22 = 220 A physical count of merchandise inventory on July 30 reveals that there are 30 units on hand. Using the FIFO inventory method, the amount allocated to Cost of Goods Sold for July is

	A. $1450
	B. $1870
	C. $1480
	D. $640

A company just began business and made the following four inventory purchases in June: June 1 150 units at $5.50= $ 825 June 10 200 units at $5.60= 1,120 June 15 200 units at $5.70= 1,140 June 28 150 units at $5.90= 885

A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the average cost method, the amount allocated to the ending inventory on June 30 is

	A. $1418
	B. $1400
	C. $1425
	D. $1475

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