A companys inventory records report the following August 1 A

A company\'s inventory records report the following August 1 August 5 August 12 Beginning balance19 units e s Purchase 14 units $8 18 units9 Purchase On August 15, it sold 38 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale? Multiple Choice $137 $117 $342 $429

Answer

Inventory purchased on Aug 12 = 18 units.

Inventory sold from Aug 12 purchases = 5 units

Remaining Ending Inventory – 18 – 5 = 13 units.

$A company\'s inventory records report the following August 1 August 5 August 12 Beginning balance19 units e s Purchase 14 units $8 18 units9 Purchase On August$

A companys inventory records report the following August 1 A

Solution

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