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

question 62

Multiple Choice

Use this information to answer the following question. $\begin{array}{llll}\text { Feb. } & 1 & \text { Inventory } & 200 \text { units @ } \$ 6.00 \\& 6 & \text { Purchase } & 300 \text { units } @ \$ 6.60\\&13 & \text { Purchase } & 100 \text { units } @ \$ 7.20 \\&20 & \text { Purchase } & 200 \text { units } @ \$ 7.80 \\&25 & \text { Purchase } & 40 \text { units @ } \$ 8.40 \\&&\text { Total sales }& 620 \text { units }\end{array}$

A periodic inventory system is used.
Using FIFO,the cost assigned to ending inventory is

• A) $4,056.
• B) $1,332.
• C) $1,740.
• D) $4,464.

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