A company just began business and made the following four inventory purchases in June: June 1 180 units $1440 June 10 240 units 2400 June 15 240 units 2880 June 28 180 units 2520 $9240 A physical count of merchandise inventory on June 30 reveals that there are 240 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 i

A company just began business and made the following four inventory purchases in June: June 1 180 units $1440 June 10 240 units 2400 June 15 240 units 2880 June 28 180 units 2520 $9240 A physical count of merchandise inventory on June 30 reveals that there are 240 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 i

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Swifty Corporation just began business and made the following four inventory purchases in June: June 1 123 units $738 June 10 164 units 1148 June 15 164 units 1312 June 28 123 units 1107 $4305 A physical count of merchandise inventory on June 30 reveals that there are 156 units on hand. Using the average cost method, the amount allocated to the ending inventory on June 30 is $1371. $1093. $1248. O $1170.
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