The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Newtown, Inc. for an operating period.

-Assuming Newtown, Inc., uses FIFO inventory procedures, the ending inventory cost is:
A) $684
B) $696
C) $722
D) $740
E) None of the above

Question

The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Newtown, Inc. for an operating period. 
 
-Assuming Newtown, Inc., uses FIFO inventory procedures, the ending inventory cost is:
A) $684 
B) $696 
C) $722 
D) $740 
E) None of the above

Quizplus · Accepted Answer

The Answer of The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Newtown, Inc. for an operating period. 
 
-Assuming Newtown, Inc., uses FIFO inventory procedures, the ending inventory cost is:
A) $684 
B) $696 
C) $722 
D) $740 
E) None of the above

The Following Data Represent the Beginning Inventory And, in Order