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Quark IncJust Began Business and Made the Following Four Inventory Purchases

question 117

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Quark Inc.just began business and made the following four inventory purchases in June:  June 1150 units $990 June 10200 units 1,344 June 15200 units 1,368 June 28150 units 1,062$4,764\begin{array} { r r r r } \text { June } & 1 & 150 \text { units } & \$ 990 \\\text { June } & 10 & 200 \text { units } & 1,344 \\\text { June } & 15 & 200 \text { units } & 1,368 \\\text { June } & 28 & 150 \text { units } & 1,062 \\& & & \$ 4,764\end{array} A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand.Using the FIFO inventory method the amount allocated to ending inventory for June is

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Definitions:

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An ancient Chinese philosopher and writer, traditionally regarded as the founder of Taoism and the author of the "Tao Te Ching."

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