A Company Has Inventory of 10 Units at a Cost

question 136

Multiple Choice

A company has inventory of 10 units at a cost of $10 each on June 1. On June 3, they purchased 20 units at $12 each. 12 units are sold on June 5. Using the FIFO periodic inventory method, what is the cost 18 units remaining in ending Inventory after the June 5 sale?

• A)$196
• B)$124
• C)$104
• D)$144
• E)$216

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