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During the year, ABC Inc determined ending inventory and COGS under FIFO cost flow anc periodic inventory method. Other information available is as follows: Unit Unit Cost Beginning inventory Purchase, January 12 100 $5 200 $6 Purchase, August 25 150 $7 Ending inventory 200 What is the value of ending inventory: Select one: Oa. 1450 O b. 1400 O c. 1350 O d. 2700

During the year, ABC Inc determined ending inventory and COGS under FIFO cost flow anc periodic inventory method. Other information available is as follows: Unit Unit Cost Beginning inventory Purchase, January 12 100 $5 200 $6 Purchase, August 25 150 $7 Ending inventory 200 What is the value of ending inventory: Select one: Oa. 1450 O b. 1400 O c. 1350 O d. 2700

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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During the year, ABC Inc determined ending inventory and COGS under FIFO cost flow anc periodic inventory method. Other information available is as follows: Unit Unit Cost Beginning inventory Purchase, January 12 Purchase, August 25 100 $5 200 $6 150 $7 Ending inventory 200 What is the value of ending inventory: Select one: O a. 1450 O b. 1400 O c. 1350 O d. 2700
Transcribed Image Text:During the year, ABC Inc determined ending inventory and COGS under FIFO cost flow anc periodic inventory method. Other information available is as follows: Unit Unit Cost Beginning inventory Purchase, January 12 Purchase, August 25 100 $5 200 $6 150 $7 Ending inventory 200 What is the value of ending inventory: Select one: O a. 1450 O b. 1400 O c. 1350 O d. 2700
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