Use This Information to Answer the Following Question A Periodic Inventory System Is Used; Ending Inventory Is 151

question 105

Multiple Choice

Use this information to answer the following question. $$\begin{array} { l l } \text { Beginning inventory } & \text { 100 units @ \$8.00 } \\\text { Purchase-Oct. } & \text { 200 units @ } \$ 6.00 \\\text { Purchase-Dec. } & \text { 100 units } @ \$ 12.00\end{array}$$ A periodic inventory system is used; ending inventory is 151 units.
What is ending inventory under FIFO?

• A) $1,406
• B) $1,606
• C) $1,306
• D) $1,506

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