QUESTION 32 The inventory records for Cookie Co. reflected the following: Beginning Inventory @ July 1 200 units @ $1.00 First Purchase @ July 8 300 units @ $1.10 Second Purchase @ July 15 400 units @ $1.20 Third Purchase @ July 26 100 units @ $1.30 800 units @ $1.50 Sales @July 31 Determine the amount of ending inventory assuming the FIFO cost flow method. $130 $100 $250 $200
QUESTION 32 The inventory records for Cookie Co. reflected the following: Beginning Inventory @ July 1 200 units @ $1.00 First Purchase @ July 8 300 units @ $1.10 Second Purchase @ July 15 400 units @ $1.20 Third Purchase @ July 26 100 units @ $1.30 800 units @ $1.50 Sales @July 31 Determine the amount of ending inventory assuming the FIFO cost flow method. $130 $100 $250 $200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![QUESTION 32
The inventory records for Cookie Co. reflected the following:
Beginning Inventory @ July 1
200 units @ $1.00
First Purchase @ July 8
300 units @ $1.10
Second Purchase @ July 15
400 units @ $1.20
Third Purchase @ July 26
100 units @ $1.30
800 units @ $1.50
Sales @July 31
Determine the amount of ending inventory assuming the FIFO cost flow method.
$130
$100
$250
$200](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7cac9678-2996-413a-884c-ba79e8efe79d%2Ff4e9594f-f16e-4464-8b71-9e54084743bc%2Fychu1i7_processed.png&w=3840&q=75)
Transcribed Image Text:QUESTION 32
The inventory records for Cookie Co. reflected the following:
Beginning Inventory @ July 1
200 units @ $1.00
First Purchase @ July 8
300 units @ $1.10
Second Purchase @ July 15
400 units @ $1.20
Third Purchase @ July 26
100 units @ $1.30
800 units @ $1.50
Sales @July 31
Determine the amount of ending inventory assuming the FIFO cost flow method.
$130
$100
$250
$200
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