FIFO. Financial Account Inventory records for Dunbar Incorporated revealed the following:DateTransactionNo. of unitsUnit costApr. 1Beginning inventory440$ 2.31Apr. 20 Purchase430$ 2.70Dunbar sold 600 units of inventory during the month Ending inventoryassuming FIFO would bea. $1,016b. $1,188c. $729d. $624

Step 1: Analysis of information givenBeginning inventory: 440 units at $2.31 eachPurchase on April…

Answered: Inventory records for Dunbar…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 1MP: Hurst Companys beginning inventory and purchases during the fiscal year ended December 31, 20-2,...

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Inventory records for Dunbar Incorporated revealed the following: Date Transaction No. of units Unit cost Apr. 1 Beginning inventory 440 $ 2.31 Apr. 20 Purchase 430 $ 2.70 Dunbar sold 600 units of inventory during the month Ending inventory assuming FIFO would be a. $1,016 b. $1,188 c. $729 d. $624