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AAA Company uses a periodic inventory system and has the following information regarding its inventory Beginning inventory Purchase on January 25 Purchase on March 15 350 units 16 $5.600 450 units i 17 7,650 6,300 10,450 350 units 18 Purchase on October 2 550 units 19 Goods available for sale $30,000 There are 750 units in ending inventory. What is the amount of the ending inventory using the FIFO method? Multipie Choice $10,450 $13,250 $14,050

AAA Company uses a periodic inventory system and has the following information regarding its inventory Beginning inventory Purchase on January 25 Purchase on March 15 350 units 16 $5.600 450 units i 17 7,650 6,300 10,450 350 units 18 Purchase on October 2 550 units 19 Goods available for sale $30,000 There are 750 units in ending inventory. What is the amount of the ending inventory using the FIFO method? Multipie Choice $10,450 $13,250 $14,050

FINANCIAL ACCOUNTING
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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AAA Company uses a periodic inventory system and has the following information regarding its inventory Beginning inventory Purchase on January 25 350 unita 16 450 units 17 $5,600 7,650 6,300 10,450 Purchase on March 15 350 units e 18 550 unita 19 Purchase on October 2 Goods available for sale $ 30,00 There are 750 units in ending inventory. What is the amount of the endng inventory using the FIFO method? Multipie Choice $10,450 $13,250 $14,050
Transcribed Image Text:AAA Company uses a periodic inventory system and has the following information regarding its inventory Beginning inventory Purchase on January 25 350 unita 16 450 units 17 $5,600 7,650 6,300 10,450 Purchase on March 15 350 units e 18 550 unita 19 Purchase on October 2 Goods available for sale $ 30,00 There are 750 units in ending inventory. What is the amount of the endng inventory using the FIFO method? Multipie Choice $10,450 $13,250 $14,050
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