If Addison uses FIFO,the cost of the ending inventory on September 30 is
A) $800
B) $650
C) $750
D) $700

Name: If Addison uses FIFO,the cost of the ending inventory on September 30 is A) $800 B) $650 C) $750 D) $700
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Question

Quizplus · Accepted Answer

FIFO (First-In, First-Out) assumes that the first items purchased are the first items sold. Therefore, the ending inventory would consist of the most recent purchases, which were made at a cost of $800.

If Addison Uses FIFO,the Cost of the Ending Inventory on September