Question
Oriole Inc. just began business and made the following four inventory purchases in June: June 1 136 units $ 912 June 10 176 units 1408
Oriole Inc. just began business and made the following four inventory purchases in June:
| June 1 | 136 units | $ 912 |
| June 10 | 176 units | 1408 |
| June 15 | 176 units | 1496 |
| June 28 | 136 units | 1160 |
$ 4976
A physical count of merchandise inventory on June 30 reveals that there are 186 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is
$ 1312.
$ 1585.
$ 1085.
$ 1483.
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Accounting Understanding And Practice
Authors: Robert Perks
4th Edition
0077139135, 978-0077139131
