In the month of March, Green Meteor Co. had the following inventory information and transactions: March 1 Beginning Inv. 200 Units @ $70 per unit March 2 Purchased 84 Units @ $65 per unit March 3 Purchased 220 Units @ $49 per unit March 5 Sold 300 Units March 8 Sold 100 Units March 15 Purchased 700 Units @ $44 per unit March 17 Purchased 240 Units @ $41 per unit March 25 Sold 55 Units March 31 Sold 120 Units For part 7 of this question, what would the Ending Inventory in dollars be for the month of March if the FIFO method is used in the periodic system of inventory management? a) $ 37,516 b) $ 29,718 c) $ 33,364 d) $ 39,022 e) $42,656

In the month of March, Green Meteor Co. had the following inventory information and transactions: March 1 Beginning Inv. 200 Units @ $70 per unit March 2 Purchased 84 Units @ $65 per unit March 3 Purchased 220 Units @ $49 per unit March 5 Sold 300 Units March 8 Sold 100 Units March 15 Purchased 700 Units @ $44 per unit March 17 Purchased 240 Units @ $41 per unit March 25 Sold 55 Units March 31 Sold 120 Units For part 7 of this question, what would the Ending Inventory in dollars be for the month of March if the FIFO method is used in the periodic system of inventory management? a) $ 37,516 b) $ 29,718 c) $ 33,364 d) $ 39,022 e) $42,656

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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