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Sheridan Supply Inc. just began business and made the following four inventory purchases in June: June 1 171 units $1026 June 10 228 units

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Sheridan Supply Inc. just began business and made the following four inventory purchases in June: June 1 171 units $1026 June 10 228 units 1596 June 15 228 units 1824 June 28 171 units 1539 $5985 The company uses a periodic inventory system. A physical count of merchandise inventory on June 30 reveals that there are 228 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is $1425. $1995. $2052. $1368. P

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