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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Information Systems Control And Audit
Authors: Ron Weber
1st Edition
0139478701, 978-0139478703
