The Ending Inventory Assuming FIFO Is

question 87

Multiple Choice

The ending inventory assuming FIFO is:

• A)$5,140.
• B)$5,080.
• C)$5,060.
• D)$5,050.Ending inventory is assumed to consist of 600 gallons from Mar.23 purchase: 600 $7.35 = $4,410
• + 100 from the Mar.16 purchase:
• 100 $7.30 = $730;
• Total = $5,140.

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