Swifty Corporation just began business and made the following four inventory purchases in June: June 1 123 units $738 June 10 164 units 1148 June 15 164 units 1312 June 28 123 units 1107 $4305 A physical count of merchandise inventory on June 30 reveals that there are 156 units on hand. Using the average cost method, the amount allocated to the ending inventory on June 30 is O $1371. O $1093. O $1248. O $1170.
Swifty Corporation just began business and made the following four inventory purchases in June: June 1 123 units $738 June 10 164 units 1148 June 15 164 units 1312 June 28 123 units 1107 $4305 A physical count of merchandise inventory on June 30 reveals that there are 156 units on hand. Using the average cost method, the amount allocated to the ending inventory on June 30 is O $1371. O $1093. O $1248. O $1170.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter13A: Perpetual Inventory Method: Lifo And Moving-average Methods
Section: Chapter Questions
Problem 2SPA: PERPETUAL: LIFO AND MOVING-AVERAGE Kelley Company began business on January 1, 20-1. Purchases and...
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