Question
Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar. 1 Beginning inventory 1,060 $7.29 Mar. 10 Purchase 530
Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar. 1 Beginning inventory 1,060 $7.29 Mar. 10 Purchase 530 7.79 Mar. 16 Purchase 415 8.39 Mar. 23 Purchase 520 9.09 Marvin sold 1,890 units of inventory during the month. Ending inventory assuming FIFO would be (Do not round your intermediate calculations. Round your answer to the nearest dollar amount):
A.$5,023 B.$7,727 C. $1,265 D. $5,692
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Auditing Assurance Services and Ethics in Australia an Integrated Approach
Authors: Alvin A Arens, Peter J. Best, Greg Shailer, Brenton Fiedler
9th edition
978-1442539365, 1442539364
