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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: accounting
Transcribed Image Text: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
Beginning inventory
Purchase
Sale
Purchase
Sale
Purchase
Multiple Choice
Activities
$38,480.
$33,300
Units Sold at Retail
1,000 units @ $110
400 units @ $110
Transcribed Image Text:10:53
Multiple Choice
$38,480
$33,300.
$35,922
$40,720
$53,680
#
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