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Use the following data: Variable production costs $480,000 Variable S and A costs $55,000 Fixed S and A costs $100,000 Fixed production costs $270,000 Unit sales price $8 Production in units 120,000 Sales in units 110,000 Under full costing, the value of the ending inventory is: A. $80,000 B. $62,500 C. $40,000 D. $210,000

Use the following data: Variable production costs $480,000 Variable S and A costs $55,000 Fixed S and A costs $100,000 Fixed production costs $270,000 Unit sales price $8 Production in units 120,000 Sales in units 110,000 Under full costing, the value of the ending inventory is: A. $80,000 B. $62,500 C. $40,000 D. $210,000

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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Under full costing

Use the following data: Variable production costs $480,000 Variable S and A costs $55,000 Fixed S and A costs $100,000 Fixed production costs $270,000 Unit sales price $8 Production in units 120,000 Sales in units 110,000 Under full costing, the value of the ending inventory is: A. $80,000 B. $62,500 C. $40,000 D. $210,000
Transcribed Image Text:Use the following data: Variable production costs $480,000 Variable S and A costs $55,000 Fixed S and A costs $100,000 Fixed production costs $270,000 Unit sales price $8 Production in units 120,000 Sales in units 110,000 Under full costing, the value of the ending inventory is: A. $80,000 B. $62,500 C. $40,000 D. $210,000
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