Oriole Company's inventory records show the following data: Unit Units Cost Inventory, January 1 10300 $9.00 Purchases: June 18 9300 8.00 November 8 6600 6.00 A physical inventory on December 31 shows 6600 units on hand. Under the FIFO method, the December 31 inventory is ○ $52800. O $39600. ○ $59400. ○ $52992.

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 4PEB: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...
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Oriole Company's inventory records show the following data:
Unit
Units
Cost
Inventory, January 1 10300
$9.00
Purchases: June 18
9300
8.00
November 8
6600
6.00
A physical inventory on December 31 shows 6600 units on hand. Under the FIFO method, the December 31 inventory is
○ $52800.
O $39600.
○ $59400.
○ $52992.
Transcribed Image Text:Oriole Company's inventory records show the following data: Unit Units Cost Inventory, January 1 10300 $9.00 Purchases: June 18 9300 8.00 November 8 6600 6.00 A physical inventory on December 31 shows 6600 units on hand. Under the FIFO method, the December 31 inventory is ○ $52800. O $39600. ○ $59400. ○ $52992.
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