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Baker Bakery Company just began business and made the following four inventory purchases in June: $ 1,040 1,560 1,680 1,320 June 1 150 units June 10 200 units June 15 200 units June 28 150 units $5.600

Baker Bakery Company just began business and made the following four inventory purchases in June: $ 1,040 1,560 1,680 1,320 June 1 150 units June 10 200 units June 15 200 units June 28 150 units $5.600

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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Q6: Baker Bakery Company just began business and made the following four inventory purchases in June: $ 1,040 1,560 1,680 1,320 June 1 150 units June 10 200 units June 15 200 units June 28 150 units $5.600 A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. Using the FIFO inventory method, what is the value of the ending inventory on June 30?
Transcribed Image Text:Q6: Baker Bakery Company just began business and made the following four inventory purchases in June: $ 1,040 1,560 1,680 1,320 June 1 150 units June 10 200 units June 15 200 units June 28 150 units $5.600 A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. Using the FIFO inventory method, what is the value of the ending inventory on June 30?
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