Question
Netta Shutters has the following inventory information. July1 Inventory 30 units @$8.00 8 Purchase 120 units @$8.30 17 Purchase 60 units @$8.40 25 Purchase 90
Netta Shutters has the following inventory information.
| July1 | Inventory | 30 units @$8.00 |
| 8 | Purchase | 120 units @$8.30 |
| 17 | Purchase | 60 units @$8.40 |
| 25 | Purchase | 90 units @$8.80 |
A physical count of merchandise inventory on November 30 reveals that there are 90 units on hand. Assume a periodic inventory system is used. Ending inventory under FIFO is
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Introductory Financial Accounting for Business
Authors: Thomas Edmonds, Christopher Edmonds
1st edition
1260299449, 978-1260299441
