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What be reported for ending merchandise for ?nichols inc

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Reference no: EM132939699

?Nichols, Inc. had the following balances and transactions during? 2024:

Beginning Merchandise Inventory as of January? 1, 2024 200 units at $82

March 10 Sold 60 units

June 10 Purchased 400 units at $85

October 30 Sold 260 units

Problem 1: What would be reported for Ending Merchandise Inventory on the balance sheet at December? 31, 2024 if the perpetual inventory system and the first-?in, first-out inventory costing method are? used?

a. 23,800

b. 34,000

c. 16,400

d. 4,920

Reference no: EM132939699

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