A company's inventory records indicate the following data for the month of April: Units Acquired 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 perpetual inventory system, what would be the cost of the ending inventory? Date April 1 April 7 April 11 April 16 April 22 April 29 Activities Beginning inventory Purchase Sale Purchase Sale Purchase Multiple Choice $38,480. $33,300. Units Sold at Retail 1,000 units @ $110 400 units @ $110

A company's inventory records indicate the following data for the month of April: Units Acquired 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 perpetual inventory system, what would be the cost of the ending inventory? Date April 1 April 7 April 11 April 16 April 22 April 29 Activities Beginning inventory Purchase Sale Purchase Sale Purchase Multiple Choice $38,480. $33,300. Units Sold at Retail 1,000 units @ $110 400 units @ $110

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 3PEA: Beginning inventory, purchases, and sales for Item Zebra 9x are as follows: Assuming a perpetual...

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