The Benchley Company uses metal grates when assembling appliances.Information as to balances on hand,purchases,and requisitions of the grates is given in the following table. If a perpetual inventory record of the metal grates is maintained on a FIFO basis,what costs are assigned to the 150 units in ending inventory?
A)150 units @ $3.50
B)15 units @ $3.50 and 135 units @ $3.24.
C)150 units @ $2.80.
D)15 units @ $3.50 and 135 units @ $2.80.

Question

The Benchley Company uses metal grates when assembling appliances.Information as to balances on hand,purchases,and requisitions of the grates is given in the following table.  If a perpetual inventory record of the metal grates is maintained on a FIFO basis,what costs are assigned to the 150 units in ending inventory?
A)150 units @ $3.50 
B)15 units @ $3.50 and 135 units @ $3.24. 
C)150 units @ $2.80. 
D)15 units @ $3.50 and 135 units @ $2.80.

Quizplus · Accepted Answer

The Answer of The Benchley Company uses metal grates when assembling appliances.Information as to balances on hand,purchases,and requisitions of the grates is given in the following table.  If a perpetual inventory record of the metal grates is maintained on a FIFO basis,what costs are assigned to the 150 units in ending inventory?
A)150 units @ $3.50 
B)15 units @ $3.50 and 135 units @ $3.24. 
C)150 units @ $2.80. 
D)15 units @ $3.50 and 135 units @ $2.80.

The Benchley Company Uses Metal Grates When Assembling Appliances