A company's Inventory records indicate the following data for the month of Apri Units Aequired at Cost 700 units $36-$25,200 580 units $40 - $23.200 500 units @ $44- $22,000 480 units $50 - $24,000 If the company uses the first-in, first-out (FIFO) method and the periodic inventory system, what would be the cost of the ending invertory Date April 1 April 7 April 11 April 16 April 22 April 29 Beginning inventory Purchase Sale Purchase Sale Purchase Multiple Choice $33,300. $53,680. $35,922. Activities $38,480. Units Sold sat Detail 1,000 units $110 400 units $110
A company's Inventory records indicate the following data for the month of Apri Units Aequired at Cost 700 units $36-$25,200 580 units $40 - $23.200 500 units @ $44- $22,000 480 units $50 - $24,000 If the company uses the first-in, first-out (FIFO) method and the periodic inventory system, what would be the cost of the ending invertory Date April 1 April 7 April 11 April 16 April 22 April 29 Beginning inventory Purchase Sale Purchase Sale Purchase Multiple Choice $33,300. $53,680. $35,922. Activities $38,480. Units Sold sat Detail 1,000 units $110 400 units $110
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:A company's Inventory records indicate the following data for the month of April
Units Aequired at Cost
700 units $36-$25,200
580 units
$40 - $23.200
500 units
$44- $22,000
480 units $50 - $24,000
If the company uses the first-in, first-out (FIFO) method and the periodic inventory system, what would be the cost of the ending inventory?
Date
April 1 Beginning inventory
April 7
Purchase
Sale
Purchase
Sale
Purchase
April 11
April 16
April 22
April 29
Multiple Choice
$33,300.
$53,680.
$35,922
$38,480.
Activities
Units Sold at Retail
1,000 units # $110
400 units $110
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