93) A company's inventory records indicate the following data for the month of April:DateApril 1April 7April 11April 16April 22April 29ActivitiesBeginninginventoryPurchaseSalePurchaseSalePurchaseA) $38,480.B) $33,300.C) $35,922.D) $40,720.E) $53,680.Units Acquired at Cost700 units @ $36 =$25,200580 units @ $40 =$23, 200500 units @ $44 =$22,000480 units @ $50 =$24,000Units Sold atRetail1,000 units @$110400 units @$110If the company uses the first-in, first-out (FIFO) method and the periodic inventory system,what would be the cost of the ending inventory?

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If the company uses the first-in, first-out (FIFO) method and the periodic inventory system, what would be the cost of the ending inventory? A) $38,480. B) $33,300. C) $35,922. D) $40,720. E) $53,680.

If the company uses the first-in, first-out (FIFO) method and the periodic inventory system, what would be the cost of the ending inventory? A) $38,480. B) $33,300. C) $35,922. D) $40,720. E) $53,680.

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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