A company purchased 400 units for $20 each on January 31. It purchased 200 units for $30 each on February 28. It sold a total of 270 units for $90 each from March 1 through December 31 If the company uses the last-in, first-out inventory costing method, calculate the amount of ending inventory on December 31. (Assume that the company uses a perpetual inventory system.)
A) $9,900
B) $23,100
C) $6,600
D) $330
C .The units in ending merchandise inventory are 330 units that were purchased on January 31 for $20 per unit.
Ending Merchandise Inventory = 330 units x $20 = $6,600
You might also like to view...
If we wish to monitor the average diameter of the hula hoops we are producing, the distribution we base our statistics on is the ________ distribution
Fill in the blanks with correct word
Michelle gives out a business card with an e-mail address on it. According to the comments that accompany the UETA, it may be reasonable to infer that Michelle has consented to
A. transact business electronically. B. submit to the jurisdiction of any selected forum. C. accept and respond to any correspondence sent to that address. D. nothing.
The following information is for Auxiliary, Inc. for the month of May: cash sales of $200,000; accounts receivable payments of $200,000; accounts payable payments of $200,000; wages and salaries of $100,000; and, interest payments of $50,000
There are no other cash inflows or outflows for the month of May and its beginning monthly cash balance is $50,000. What is Auxiliary's ending cash balance for May? A) -$50,000 B) $50,000 C) $100,000 D) $150,000
In the United States, only ______ can bring criminal charges
a. public institutions b. private citizens c. the government d. the Supreme Court e. private investigators