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Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 100 units at $9 per unit 300 units at $10 per unit 120 units at $11 per unit At January 31, 200 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,120 B. $1,900 OC. $1,800 O D. $1,780

Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 100 units at $9 per unit 300 units at $10 per unit 120 units at $11 per unit At January 31, 200 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,120 B. $1,900 OC. $1,800 O D. $1,780

FINANCIAL ACCOUNTING
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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Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 100 units at $9 per unit 300 units at $10 per unit 120 units at $11 per unit At January 31, 200 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,120 O B. $1,900 O C. $1,800 O D. $1,780 Click to select your answer. P Type here to search 立
Transcribed Image Text:Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 100 units at $9 per unit 300 units at $10 per unit 120 units at $11 per unit At January 31, 200 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,120 O B. $1,900 O C. $1,800 O D. $1,780 Click to select your answer. P Type here to search 立
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