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Question 20 through 22 are based on the following information. Toulouse Co. began the month of November with 150 baubles on hand at a cost
Question 20 through 22 are based on the following information. Toulouse Co. began the month of November with 150 baubles on hand at a cost of $4.00 each. These baubles sell for $7.00 each. The following schedule presents the sales and purchases of this item during the month of November Purchases Date of Quantity Unit Unit Transaction Received Cost Sold November 5 November 7 200 $4.20 November 9 November 11 200 $4.40 November 17 November 22 250 November 29 100 S4.80 20. If Toulouse uses FIFO inventory pricing, the inventory on November 30 will be A. $936 B. $1,012 C. $1,046 D. $1,104 21. ff Toulouse uses weighted-average inventory pricing, the cost of goods sold for November will be A. $2.954 B. $2,508 C. $2,474 D. $2,462 ending inventory 22. e ed for November will be If Toulouse uses periodic LIFO inventory pricing, the f A $1,104 B. $1.076 C. $1,046 D. $936
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