The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of PerBeginning InventorySale No. 1Purchase No. 1Sale No. 2Purchase No. 2TotalsSelect one:OUnits Unit Cost Total Cost Units Sold50$124$6,200A. $5,952B. $4,320C. $4,800D. $4,2243040120100883,0004032Assuming Petroni, Inc. uses FIFO perpetual inventory procedures, the ending inventory cost is:3,520$12,720 72

Ending inventory is the amount of inventory that an entity has on hand, at the end of the period. It…

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:

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 11PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...

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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

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