Use the following information to compute ending inventory in a perpetual inventory system which computes cost of good sold under the FIFO method. 1/1 Beginning inventory 320 units. $ 3.00/unit 1/9 Purchases. 80 units. $ 3.20/unit 1/25 Purchases 100 units. $ 3.34 1/26. Sold 350 units Select one: O A. None of the Above O B. $ 960 O C.$ 494 O D. $ 1056

Use the following information to compute ending inventory in a perpetual inventory system which computes cost of good sold under the FIFO method. 1/1 Beginning inventory 320 units. $ 3.00/unit 1/9 Purchases. 80 units. $ 3.20/unit 1/25 Purchases 100 units. $ 3.34 1/26. Sold 350 units Select one: O A. None of the Above O B. $ 960 O C.$ 494 O D. $ 1056

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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