Question
Kingbird, Inc. just began business and made the following four inventory purchases in June: June 1 171 units $1190 June 10 228 units 1780 June
Kingbird, Inc. just began business and made the following four inventory purchases in June:
| June 1 | 171 units | $1190 | ||
| June 10 | 228 units | 1780 | ||
| June 15 | 228 units | 1920 | ||
| June 28 | 171 units | 1500 | ||
| $6390 |
A physical count of merchandise inventory on June 30 reveals that there are 240 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is
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Fundamentals Of IT Audit For Operational Auditors
Authors: Timothy McWilliams
1st Edition
1634541332, 978-1634541336
