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A company just starting business made the following four inventory purchases in June: June 1 110 units $390 June 10 210 units 590 June 15 210 units 500 June 28 170 units 200 $1680 A physical count of merchandise inventory on June 30 reveals that there are 220 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is $1090. $528. $462. $699.

A company just starting business made the following four inventory purchases in June: June 1 110 units $390 June 10 210 units 590 June 15 210 units 500 June 28 170 units 200 $1680 A physical count of merchandise inventory on June 30 reveals that there are 220 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is $1090. $528. $462. $699.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 14RE: On January 1 of Year 1, Dorso Company adopted the dollar-value LIFO method of inventory costing....
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A company just starting business made the following four inventory purchases in June: June 1 110 units $390 June 10 210 units 590 June 15 210 units 500 June 28 170 units 200 $1680 A physical count of merchandise inventory on June 30 reveals that there are 220 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is $1090. $528. $462. $699.
Transcribed Image Text:A company just starting business made the following four inventory purchases in June: June 1 110 units $390 June 10 210 units 590 June 15 210 units 500 June 28 170 units 200 $1680 A physical count of merchandise inventory on June 30 reveals that there are 220 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is $1090. $528. $462. $699.
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