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Use the following information for questions 75-77: Dundee Enterprises purchased inventory items as follows: Cost Dundee sold 250 units on 5/1/2016 for $18.00 each. Date
Use the following information for questions 75-77: Dundee Enterprises purchased inventory items as follows: Cost Dundee sold 250 units on 5/1/2016 for $18.00 each. Date of Purchase 1/1/2016 2/1/2016 3/8/2016 4/9/2016 No. of items 100 200 150 50 $ 8.50 $ 9.00 $ 9.30 $ 10.50 75. Dundee's cost of goods sold under FIFO would be: A. $1,860 B. $2,200. C. $2,310. D. $2,100 76. Dundee's ending inventory under LIFO would be: A. $2,730. B. $2,460 C. $2,220. D. $2,200. 77. Dundee's ending inventory under weighted average would be approximately: A. $2,285. B. $2,340. C. $2,361. D. $1,980. 43. Which of the following is a contra account? a. Depreciation Expense c. Patents b. d. Unearned revenue Allowance for Uncollectable Accounts
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