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ave Company has the following inventory information. Accounting Transactions Date July 1 Beginning Inventory 5 Purchases 14 Sale 21 Purchases 30 Sale $6,516 $6,654 ssuming that a perpetual inventory system is used, what is the ending inventory on FIFO basis? O $6,587 O $6,423 Transaction $6,701 O Search the web Units and Cost 15 units at $92 124 units at $93 76 units 60 units at $90 51 units H M

ave Company has the following inventory information. Accounting Transactions Date July 1 Beginning Inventory 5 Purchases 14 Sale 21 Purchases 30 Sale $6,516 $6,654 ssuming that a perpetual inventory system is used, what is the ending inventory on FIFO basis? O $6,587 O $6,423 Transaction $6,701 O Search the web Units and Cost 15 units at $92 124 units at $93 76 units 60 units at $90 51 units H M

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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Brave Company has the following inventory information. Accounting Transactions Date July 1 Beginning Inventory 5 Purchases 14 Sale 21 Purchases 30 Sale O $6,516 O $6,654 Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis? O $6,587 O $6,423 $6,701 Transaction 4- O Search the web 18 KAA fio Units and Cost DDI 15 units at $92 124 units at $ 93 76 units 60 units at $90 51 units
Transcribed Image Text:Brave Company has the following inventory information. Accounting Transactions Date July 1 Beginning Inventory 5 Purchases 14 Sale 21 Purchases 30 Sale O $6,516 O $6,654 Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis? O $6,587 O $6,423 $6,701 Transaction 4- O Search the web 18 KAA fio Units and Cost DDI 15 units at $92 124 units at $ 93 76 units 60 units at $90 51 units
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