Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 100 units at $9 per unit 300 units at $10 per unit 120 units at $11 per unit At January 31, 200 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,120 B. $1,900 OC. $1,800 O D. $1,780

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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Tomasino's inventory records show the following data at January 31:
Beginning inventory Jan. 1
Jan. 10 purchase
Jan. 22 purchase
100 units at $9 per unit
300 units at $10 per unit
120 units at $11 per unit
At January 31, 200 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method?
O A. $2,120
O B. $1,900
O C. $1,800
O D. $1,780
Click to select your answer.
P Type here to search
立
Transcribed Image Text:Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 100 units at $9 per unit 300 units at $10 per unit 120 units at $11 per unit At January 31, 200 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,120 O B. $1,900 O C. $1,800 O D. $1,780 Click to select your answer. P Type here to search 立
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