Inventory records for a Company revealed the following: Date Transaction Number of Units Unit Cost...
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Accounting
Inventory records for a Company revealed the following: Date Transaction Number of Units Unit Cost
Apr. 1 Beginning Inventory 500 $ 2.40
Apr. 20 Purchase 400 2.50
21.Company sold 700 units of inventory during the month. Ending inventory assuming FIFO would be: A) $500. B) $490. C) $470. D) $480.
22.Company sold 700 units of inventory during the month. Cost of goods sold assuming FIFO would be: A) $1,730. B) $1,700. C) $1,720. D) $1,710.
23.Company sold 700 units of inventory during the month. Ending inventory assuming LIFO would be: A) $500. B) $490. C) $470. D) $480.
24.Company sold 700 units of inventory during the month. Cost of goods sold assuming LIFO would be: A) $1,730. B) $1,700. C) $1,720. D) $1,710.
25. Company sold 700 units of inventory during the month. Ending inventory assuming weighted-average cost would be: (Round weighted-average unit cost to 4 decimals) A) $511 B) $500 C) $489. D) $470.
26.
Company sold 700 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be: (Round weighted-average unit cost to 4 decimals)
A) $1,711.
B) $1,700.
C) $1,720.
D) $1,708
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