Quark Inc.just began business and made the following four inventory purchases in June: A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand.Using the FIFO inventory method, the amount allocated to ending inventory for June is
A)$1,326.
B)$1,320.
C)$1,404.
D)$1,416.

Question

Quark Inc.just began business and made the following four inventory purchases in June:  A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand.Using the FIFO inventory method, the amount allocated to ending inventory for June is
A)$1,326. 
B)$1,320. 
C)$1,404. 
D)$1,416.

Quizplus · Accepted Answer

The Answer of Quark Inc.just began business and made the following four inventory purchases in June:  A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand.Using the FIFO inventory method, the amount allocated to ending inventory for June is
A)$1,326. 
B)$1,320. 
C)$1,404. 
D)$1,416.

Quark IncJust Began Business and Made the Following Four Inventory Purchases