Value of the ending inventory of units, Accounting Basics

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Value of the ending inventory of units

A firm that sells a single product had a beginning inventory of 4,000 units with a total cost of $28,000. Early in the year, 10,000 units were purchased at $9 each. Using FIFO, what is the value of the ending inventory of 3,000 units?

A) $27,000

B) $24,000

C) $21,000

D) $36,000

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Accounting Basics: Value of the ending inventory of units

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Accounting Basics: Value of the ending inventory of units

Reference No:- TGS040307

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Determine the balance in the finished goods inventory

Q : Value of the ending inventory

Q : Net income under worst case scenario

Q : Compute the amount of overhead applied to production

Q : Value of the ending inventory of units

Q : Prepare the necessary journal entries

Q : Compute the equivalent units of production for refining

Q : Bank reconciliation statement problem

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Value of the ending inventory of units

Reference No:- TGS040307

Recent Questions Asked Accounting Basics

Q : Determine the balance in the finished goods inventory

Q : Value of the ending inventory

Q : Net income under worst case scenario

Q : Compute the amount of overhead applied to production

Q : Value of the ending inventory of units

Q : Prepare the necessary journal entries

Q : Compute the equivalent units of production for refining

Q : Bank reconciliation statement problem

Q : Compute the cost per unit

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