culatorAddison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of September:Sept. 1Inventory20 units at $20Sale10 units10Purchase30 units at $2517Sale20 units30Purchase10 units at $30If Addison uses FIFO, the cost of the ending merchandise inventory on September 30 isOa $650Ob. $800Oc. $700Od. $750( Previous

Workings: By following FIFO method cost of ending merchandise inventory on September,30 is $ 800.

Answered: culator Addison, Inc. uses a perpetual…

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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