ScQUESTION 4Inventory records for Eliza Company revealed the following:DateMarch 1March 10March 16March 23O $1,148.O $7,180.O $5,878.O $5,547.None of the aboveEliza sold 1,840 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations.Round your answer to the nearest dollar amount.)IClick Save and Submit to save and submit. Click Save All Answers to save all answers.!1F1QA1optionNBeginning InventoryPurchasePurchase.Purchase@2*F2WTransactionS#3XHcommand80F3ED$A GA4CaF4R20FL07 dº%Number of Units1,0005↓F5VT570376520MacBook Air6GF6YB&7Unit Cost$7.1877.688.288.98HF7U+00*8NDIIJF8(a9DDMF9K)00Save All A4F10<ofCO

First in first out is an inventory valuation method. According to FIFO, the first purchases are sold…

QUESTION 4 Inventory records for Eliza Company revealed the following: Date March 1 March 10 March 16 March 23 O $1,148. O $7,180. O $5,878. O $5,547. Beginning Purchase Purchase Purchase O None of the above Transaction Inventory Number of Units 1,000 570 376 520 Unit Cost Eliza sold 1,840 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) $7.18 7.68 8.28 8.98

QUESTION 4 Inventory records for Eliza Company revealed the following: Date March 1 March 10 March 16 March 23 O $1,148. O $7,180. O $5,878. O $5,547. Beginning Purchase Purchase Purchase O None of the above Transaction Inventory Number of Units 1,000 570 376 520 Unit Cost Eliza sold 1,840 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) $7.18 7.68 8.28 8.98

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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