Grape Gratuities Company Has the Following Inventory Data A Physical Count of Merchandise Inventory on July 30 Reveals

question 15

Multiple Choice

Grape Gratuities Company has the following inventory data: $$\begin{array} { r l r r } \text { July } 1 & \text { Beginning inventory } & 40 \text { units at } \$ 20 & \$ 800 \\7 & \text { Purchases } & 140 \text { units at } \$ 21 & 2,940 \\22 & \text { Purchases } & 20 \text { units at } \$ 22 & { 440 }\\&&& { \$ 4,180 }\end{array}$$ A physical count of merchandise inventory on July 30 reveals that there are 50 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is

• A)$1,170.
• B)$1,010.
• C)$1,070.
• D)$1,100.

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Definitions:

Cultures

The shared values, traditions, norms, customs, arts, history, folklore, and institutions of a group of people.

Parent-child Relationship

A dynamic interaction between a parent and their child, influencing the child's development and socialization.

Gender

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Race

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