Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning inventory. It purchased A thru G in January at $4 per letter. In February, it purchased H thru L at $6 per letter. It purchased M thru R in March at $7 per letter. It sold A, D, E, H, J and N in October. There were no additional purchases or sales during the remainder of the year.If Alphabet Company uses the specific identification method, what is the cost of its ending inventory?Multiple Choice $31 $69 $76 $100 Alphabet Company, which uses the periodic Inventory method, purchases different letters for resale. Alphabet had no beginning Inventory. It purchased A thru G In January at $4 perletter. In February, It purchased H thru L at $6 per letter. It purchased M thru R In March at $7 per letter. It sold A, D, E, H, J and N in October. There were no additional purchases or salesduring the remainder of the year.If Alphabet Company uses the specific Identification method, what is the cost of its ending Inventory?Multiple ChoiceOO$31$69$76$100

Name: Alphabet Company, which uses the periodic inventory method, purchases
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Description: Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning inventory. It purchased A thru G in January at $4 per letter. In February, it purchased H thru L at $6 per letter. It purcha

The inventory can be valued using various methods as LIFO, FIFO, weighted average and specific…

Answered: Alphabet Company, which uses the…

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 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...

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Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning inventory. It purchased A thru G in January at $4 per letter. In February, it purchased H thru L at $6 per letter. It purchased M thru R in March at $7 per letter. It sold A, D, E, H, J and N in October. There were no additional purchases or sales during the remainder of the year.

If Alphabet Company uses the specific identification method, what is the cost of its ending inventory?

Multiple Choice

$31
$69
$76
$100

Alphabet Company, which uses the periodic Inventory method, purchases different letters for resale. Alphabet had no beginning Inventory. It purchased A thru G In January at $4 per
letter. In February, It purchased H thru L at $6 per letter. It purchased M thru R In March at $7 per letter. It sold A, D, E, H, J and N in October. There were no additional purchases or sales
during the remainder of the year.
If Alphabet Company uses the specific Identification method, what is the cost of its ending Inventory?
Multiple Choice
O
O
$31
$69
$76
$100

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