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Lion Co. has the following data related to an item of inventory: ...

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Question

Accounting

Lion Co. has the following data related to an item of inventory:
Inventory, March 1 200 units @ $4.20
Purchase, March 7 700 units @ $4.40
Purchase, March 16 140 units @ $4.50
Inventory, March 31 300 units
The value assigned to ending inventory if Lion uses FIFO is
A.
$1,334.
B.
$1,280.
C.
$1,260.
D.
$1,350.

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