Accounting MCQ Accounting At what amount would Shoeless report ending inventory using FIFO cost flow assumptions?

At what amount would Shoeless report ending inventory using FIFO cost flow assumptions?

Naim 12:29 Accounting

The following information relates to inventory for Shoeless Joe Inc.

Date Quantity Price

Mar Beginning Inventory 20 $ 2

March 7 Purchase 15 3

Mar Sale 25 7

Mar2 Purchase 20 4

At what amount would Shoeless report ending inventory using FIFO cost flow assumptions?

A) $55.

B) $170.

C) $110.

D) $70.

Answer: C

Learn More :

If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.

Subscribe to: Post Comments (Atom)