Question
QUESTION 2 Suppose a company that handles medical supplies has these inventory records for October 2015: Date Item Quantity Per Unit Oct. 1 Beg. Inv.
QUESTION 2
Suppose a company that handles medical supplies has these inventory records for October 2015:
Date Item Quantity Per Unit
Oct. 1 Beg. Inv. 300 $27.00
Oct. 4 Purchase 375 $26.50
Oct. 7 Sale 450 $63.00
Oct. 13 Purchase 330 $26.00
Oct. 19 Purchase 225 $25.40
Oct. 22 Sale 570 $63.75
Oct. 24 Purchase 300 $25.00
Oct. 28 Sale 165 $64.50
The company uses the periodic inventory method. Round answer to the nearest dollar. Ending Inventory using FIFO is
| A. | $8,670 | |
| B. | $9,293 | |
| C. | $8,982 | |
| D. | $8,643 | |
| E. | $31,190 |
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Auditing Humor And Other Oxymorons
Authors: Mr Mike Jacka
1st Edition
0991280903, 978-0991280902
