Using FIFO inventory method, the value of ending inventory on June 29th isA) $1,040B) $1,095C)$1,200D) $1,282.50 1. The DDRM Company just began in business made the following fourinventory purchasesi. June 3ii. June 10iii. June 15iv. June 28Records show that 500 units were sold on June 29th150 units5.20 $7806.30 $1,2605.85 $1,1706.60 $990200 units200 units150 units

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Description: Using FIFO inventory method, the value of ending inventory on June 29th isA) $1,040B) $1,095C)$1,200D) $1,282.50 1. The DDRM Company just began in business made the following fourinventory purchasesi. June 3ii. June 10iii. June 15iv. June 28Records s

Total units available = 150 + 200 + 200 + 150 = 700 units Units sold = 500 units Units in Ending…

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Business

Accounting

Using FIFO inventory method, the value of ending inventory on June 29th is A) $1,040 B) $1,095 C)$1,200 D) $1,282.50

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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