Business, 30.03.2020 15:52 becky060604
Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning inventory. It purchased A thru G in January at $5.50 per letter. In February, it purchased H thru L at $7.50 per letter. It purchased M thru R in March at $8.50 per letter. It sold A, D, E, H, J and N in October. There were no additional purchases or sales during the remainder of the year.
If Alphabet Company uses the FIFO method, what is the cost of its ending inventory?
$24
$42
$58
$76
Answers: 1
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Alphabet Company, which uses the periodic inventory method, purchases different letters for resale....
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