Pop-Up Party Favors Inc A Physical Count of Merchandise Inventory on July 31 Reveals

question 149

Multiple Choice

Pop-up Party Favors Inc.has the following inventory data: $$\begin{array} { r l r r } \text { July } 1 & \text { Beginning inventory } & 30 \text { units at } \$ 19 & \$ 570 \\7 & \text { Purchases } & 105 \text { units at } \$ 20 & 2,100 \\22 & \text { Purchases } & 15 \text { units at } \$ 22 &330\\&&&\$3,000\end{array}$$ A physical count of merchandise inventory on July 31 reveals that there are 48 units on hand.Using the FIFO inventory method the amount allocated to ending inventory for July is

• A)$930.
• B)$990.
• C)$960.
• D)$1056.

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