A company has beginning inventory of 15 units at a cost of $12 each on October 1. On October 5, it purchases 10 units at $13 per unit. On October 12 it purchases 20 units at $14 per unit. On October 15, it sells 30 units. Using the FIFO periodic inventory method, what is the value of the inventory at October 15 after the sale?
A. $590
B. $210
C. $380
D. $160
E. $140
Answer: B
You might also like to view...
________ refers to the percentage of the customers' purchases made from the retailer.
A. Customer lifetime value B. Profit sharing C. 80-20 rule D. Share of wallet E. 1-to-1 retailing
Enron: A Fraud Example What were the failures that allowed the Enron fraud to occur?
Which of the following indicates that the cost of money will increase?
A. Increase in the rate of inflation in an economy B. Increase in liquidity of an asset C. Decrease in federal deficit of a country D. Increase in money supply E. Decrease in tax rates for corporations
An attitude consists of one's evaluation of his or her feelings and behavioral tendencies toward an object or idea.
Answer the following statement true (T) or false (F)