The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 100 units @ $4.15 First purchase @ May 7 300 units @ $4.55 Second purchase @ May 17 500 units @ $4.75 Third purchase @ May 23 100 units @ $4.95 Sales @ May 31 900 units @ $7.95 What is the amount of ending inventory assuming the FIFO cost flow method? Multiple Choice $415 $955 $455 $495
The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 100 units @ $4.15 First purchase @ May 7 300 units @ $4.55 Second purchase @ May 17 500 units @ $4.75 Third purchase @ May 23 100 units @ $4.95 Sales @ May 31 900 units @ $7.95 What is the amount of ending inventory assuming the FIFO cost flow method? Multiple Choice $415 $955 $455 $495
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
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