Question
Suppose a company had the following inventory information: Beginning Inventory: 90 units @ $4.00 cost per unit Purchases: 180 units @ $7.00 cost per unit
Suppose a company had the following inventory information: Beginning Inventory: 90 units @ $4.00 cost per unit Purchases: 180 units @ $7.00 cost per unit If the company then sold 190 units, what would be the amount of ending inventory under FIFO?
$360
$1,260
$1,060
$560
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Financial Accounting An Introduction To Concepts Methods And Uses
Authors: Clyde P. Stickney, Roman L. Weil
8th Edition
0030182689, 978-0030182686
