In the month of March, Green Meteor Co. had the following inventory information and transactions: March 1 Beginning Inv. 200 Units @ $70 per unit March 2 Purchased 84 Units @ $65 per unit March 3 Purchased 220 Units @ $49 per unit March 5 Sold 300 Units March 8 Sold 100 Units March 15 Purchased 700 Units @ $44 per unit March 17 Purchased 240 Units @ $41 per unit March 25 Sold 55 Units March 31 Sold 120 Units For part 5 of this question, what would the ending inventory in dollars be on March 31 if the FIFO method is used in the perpetual system of inventory management? a) $ 37,516 b) $ 37,412 c) $ 37,610 d) $ 30,245 e) $ 30,250

In the month of March, Green Meteor Co. had the following inventory information and transactions: March 1 Beginning Inv. 200 Units @ $70 per unit March 2 Purchased 84 Units @ $65 per unit March 3 Purchased 220 Units @ $49 per unit March 5 Sold 300 Units March 8 Sold 100 Units March 15 Purchased 700 Units @ $44 per unit March 17 Purchased 240 Units @ $41 per unit March 25 Sold 55 Units March 31 Sold 120 Units For part 5 of this question, what would the ending inventory in dollars be on March 31 if the FIFO method is used in the perpetual system of inventory management? a) $ 37,516 b) $ 37,412 c) $ 37,610 d) $ 30,245 e) $ 30,250

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...

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