A company just starting business made the following four inventory purchases in June: June 1 June 10 June 15 June 28 150 units@$2.60 per unit 200 units@$2.99 per unit 200 units@$3.15 per unit 150 units@$3.40 per unit Total amount $ 390 598 630 510 $2,128 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the value of the ending inventory on June 30 is O $667.50 O $1,587.50 O $540.40 O 51,460

A company just starting business made the following four inventory purchases in June: June 1 June 10 June 15 June 28 150 units@$2.60 per unit 200 units@$2.99 per unit 200 units@$3.15 per unit 150 units@$3.40 per unit Total amount $ 390 598 630 510 $2,128 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the value of the ending inventory on June 30 is O $667.50 O $1,587.50 O $540.40 O 51,460

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Description: A company just starting business made the following four inventory purchases in June:June 1June 10June 15June 28150 units@$260 per unit200 units@$2.99 per unit200 units@$3.15 per unit150 units@$3.40 per unitTotal amount$390598630510$2,128A physical

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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