A company just starting business made the following four inventory purchases in June June 1 10 320 units $1,600.00 June 165 units $ 742.50 June 118 units $ 855.50 15 June 431 units $3,448.00 28 Various sales were made during the month and a physical count of inventory on June 30 reveals that there are 534 units on hand. Using the FIFO Inventory method, the amount allocated to cost of sales for June is: $2.342.50 $2.451.25 $4.194.75 $3,215.00
A company just starting business made the following four inventory purchases in June June 1 10 320 units $1,600.00 June 165 units $ 742.50 June 118 units $ 855.50 15 June 431 units $3,448.00 28 Various sales were made during the month and a physical count of inventory on June 30 reveals that there are 534 units on hand. Using the FIFO Inventory method, the amount allocated to cost of sales for June is: $2.342.50 $2.451.25 $4.194.75 $3,215.00
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 3E: Basga Company uses the periodic inventory system. Beginning inventory amounted to 241,072. A...
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A company just starting business made the following four inventory purchases in June
June
1
10
320 units
$1,600.00
June
165 units
$ 742.50
June
118 units
$ 855.50
15
June
431 units
$3,448.00
28
Various sales were made during the month and a physical count of inventory on June 30 reveals that there are 534 units on hand.
Using the FIFO Inventory method, the amount allocated to cost of sales for June is:
$2.342.50
$2.451.25
$4.194.75
$3,215.00
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