The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of P Beginning Inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 Totals Units Unit Cost Total Cost Units Sold 50 $124 $6,200 Select one: O A. $5,952 OB. $4,320 C. $4,800 D. $4224 30 40 120 100 88 3,000 3,520 $12,720 40 32 72 Assuming Petroni, Inc. uses FIFO perpetual inventory procedures, the ending inventory cost is:
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of P Beginning Inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 Totals Units Unit Cost Total Cost Units Sold 50 $124 $6,200 Select one: O A. $5,952 OB. $4,320 C. $4,800 D. $4224 30 40 120 100 88 3,000 3,520 $12,720 40 32 72 Assuming Petroni, Inc. uses FIFO perpetual inventory procedures, the ending inventory cost is:
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter20: Accounting For Inventory
Section20.2: Determining The Cost Of Merchandise Inventory
Problem 1OYO
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Question
![The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Per
Beginning Inventory
Sale No. 1
Purchase No. 1
Sale No. 2
Purchase No. 2
Totals
Select one:
O
Units Unit Cost Total Cost Units Sold
50
$124
$6,200
A. $5,952
B. $4,320
C. $4,800
D. $4,224
30
40
120
100
88
3,000
40
32
Assuming Petroni, Inc. uses FIFO perpetual inventory procedures, the ending inventory cost is:
3,520
$12,720 72](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F050b30d9-6ddb-4830-8b3e-18988d674102%2Fd60c795c-5add-42b3-b17e-e710f65c3f13%2Fhvwyyzli_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Per
Beginning Inventory
Sale No. 1
Purchase No. 1
Sale No. 2
Purchase No. 2
Totals
Select one:
O
Units Unit Cost Total Cost Units Sold
50
$124
$6,200
A. $5,952
B. $4,320
C. $4,800
D. $4,224
30
40
120
100
88
3,000
40
32
Assuming Petroni, Inc. uses FIFO perpetual inventory procedures, the ending inventory cost is:
3,520
$12,720 72
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