The GMA corporation shows the following data related to an item of Inventory Inventory, January 1 100 units @P50 Purchases, January 9 300 units @ P54 Purchases, January 19 90 units @ P60 Sales, January 20 340 units Inventory, January 31 150 units What value should be assigned to the ending inventory using FIFO? None of the above O 3,240 O 17,960 O 5,400 O 8.640
The GMA corporation shows the following data related to an item of Inventory Inventory, January 1 100 units @P50 Purchases, January 9 300 units @ P54 Purchases, January 19 90 units @ P60 Sales, January 20 340 units Inventory, January 31 150 units What value should be assigned to the ending inventory using FIFO? None of the above O 3,240 O 17,960 O 5,400 O 8.640
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
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