Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning inventory. It purchased A thru G in January at $10.50 per letter. In February, it purchased H thru L at $12.50 per letter. It purchased M thru R in March at $13.50 per letter. It sold A, D, E, H, J and N in October. There were no additional purchases or sales during the remainder of the year.If Alphabet Company uses the FIFO method, what is the cost of its ending inventory?
A. $63
B. $154
C. $136
D. $81
Answer: B
You might also like to view...
Book value is a measure of the market value of the stock
a. True b. False Indicate whether the statement is true or false
What type of communication addresses the specific organizational goals?
A. strategic B. advertising C. operational D. public relations
The fees of any attorney or filing service used for filing bankruptcy must be paid by the debtor
Indicate whether the statement is true or false
Under the ________, companies carrying on business outside the United States will come within the subject-matter jurisdiction of an American court if their business activity is intended to affect U.S. commerce and is not de minimis
A. national eligibility test B. minimum contact test C. effects test D. per se test