Question
Sheridan has the following inventory data: Nov. 1 Inventory 25 units @ $5.00 each 8 Purchase 101 units @ $5.40 each 17 Purchase 50 units
Sheridan has the following inventory data:
| Nov. 1 | Inventory | 25 units @ $5.00 each | ||
| 8 | Purchase | 101 units @ $5.40 each | ||
| 17 | Purchase | 50 units @ $5.30 each | ||
| 25 | Purchase | 76 units @ $5.50 each |
A physical count of merchandise inventory on November 30 reveals that there are 84 units on hand. Ending inventory under FIFO is
$460.
$910.
$444.
$893.
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Accounting Business Reporting For Decision Making
Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver
6th Edition
978-0730363415, 0730363414
