A company purchased 100 units for $30 each on January 31. It purchased 400 units for $40 each on February 28. It sold a total of 460 units for $100 each from March 1 through December 31. If the company uses the last - in, first - out inventory costing method, calculate the cost of ending inventory on December 31. (Assume that the company uses a perpetual inventory system.) O A $40 O B. $1,600 OC. $2,800 OD. $1,200

A company purchased 100 units for $30 each on January 31. It purchased 400 units for $40 each on February 28. It sold a total of 460 units for $100 each from March 1 through December 31. If the company uses the last - in, first - out inventory costing method, calculate the cost of ending inventory on December 31. (Assume that the company uses a perpetual inventory system.) O A $40 O B. $1,600 OC. $2,800 OD. $1,200

Name: A company purchased 100 units for $30 each on January 31. It purchase
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Description: A company purchased 100 units for $30 each on January 31. It purchased 400 units for $40 each on February 28. It sold a total of 460 units for $100 each from March 1 through December 31. If the company uses thelast-in, first- out inventory costing m

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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