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) $1,105.
B) $1,100.
C) $1,170.
D) $1,180.

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) $1,105. 
B) $1,100. 
C) $1,170. 
D) $1,180.

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) $1,105. 
B) $1,100. 
C) $1,170. 
D) $1,180.

Quark Inc Just Began Business and Made the Following Four Inventory