Quark Inc. just began business and made the following four inventory purchases in June: ...
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Accounting
Quark Inc. just began business and made the following four inventory purchases in June:
June 1 150 units $ 990
June 10 200 units 1,344
June 15 200 units 1,368
June 28 150 units 1,062
$4,764
A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is
$1,320.
$1,404.
$1,326.
$1,416.
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