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Compute the Ending inventory under FIFO

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Reference no: EM132756781

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Q1. Nash's,LLCs has the following inventory data:

Nov. 1 Inventory 22 units @ $4.40each

Nov 8 Purchase 89 units @ $4.75 each

Nov 17 Purchase 44units @ $4.65 each

Nov 25 Purchase 67 units @ $4.90 each

A physical count of merchandise inventory on November 30 reveals that there are 74 units on hand. Cost of goods sold under LIFO is?

A. $361.

B. $709.

C. $692.

D. $344.

Q2. Nash's,LLCs has the following inventory data:

Nov. 1 Inventory 22 units @ $4.40 each

Nov 8 Purchase 89 units @ $4.75 each

Nov 17 Purchase 44 units @ $4.65 each

Nov 25 Purchase67 units @ $4.90 each

A physical count of merchandise inventory on November 30 reveals that there are 74 units on hand. Ending inventory under FIFO is?

A. $709.

B. $344.

C. $361.

D. $692.

Reference no: EM132756781

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