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Quark Inc. just began business and made the following four inventory purchases in June June 1 150 units $ 990 June 10 200 units 1344

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Quark Inc. just began business and made the following four inventory purchases in June June 1 150 units $ 990 June 10 200 units 1344 June 15 200 units 1.368 June 28 150 units 1062 $4.764 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the amount allocated to COGS for June is 53.36 3360 5343

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