Question
Orange-Aide Company has the following inventory data: July 1 Beginning inventory 20 units at $20 $ 400 7 Purchases 70 units at $21 1,470 22
Orange-Aide 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 |
|
|
|
|
|
| $2,090 |
A physical count of merchandise inventory on July 30 reveals that there are 30 units on hand. Using the average cost method, the value of ending inventory is
| $660 |
| $630 |
| $627 |
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Internal Auditors Manual And Guide The Practitioners Guide To Internal Auditing
Authors: Milton Stevens Fonorow
1st Edition
0134711947, 978-0134711942
