Financial Accounting for Managers SP18 BSectio 880 Assessmen

Financial Accounting for Managers SP18 B-Sectio 880 AssessmentsCommunicationMy Tools iz Time Left:157:25 Sharde Johnson: Attempt 1 Question 3 (6 points) Use the following data to calculate the cost of ending inventory under the FIFO method. Beginning Inventory 15 units at $20 each Purchase Purchase Ending Inventory30 units September 1 September 10 September 20 September 30 20 units at $25 each 25 units at $28 each CA) $840 B) $750 C) $825 C D) $675 Save rtod Question 4 (6 points)

Solution

PURHASES/ Brginning inventory Date Particulars Units (A) Rate Per unit Total Cost Sept , 01 Beginning inventory 15 $                           20 $                              300 Sept , 10 Purhcases 20 $                           25 $                              500 Sept , 20 Purhcases 25 $                           28 $                              700 Goods Available For Sales 60 $                          1,500 Ending inventory 30 units Sept , 20 Purhcases 25 $                           28 $                              700 Sept , 10 Purhcases 5 $                           25 $                              125 Total Inventory Value $                              825 Answer = Option C = $ 825