FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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O $2,100 O $2,530 At March 31, 330 units are still on hand. What is the cost of the endinsimventory at March 31 if Tomasino uses the FIFO method? O $3.660 O $6,190 Tomasino's inventory reconds show theowing data at March 31 Mar 17 purchase O $4,090 Beginning inventory Mar 1 100 units at $9 per unit 300 units at $12 per unit 130 units at $13 per unit Mar 8 purchase
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Transcribed Image Text:O $2,100 O $2,530 At March 31, 330 units are still on hand. What is the cost of the endinsimventory at March 31 if Tomasino uses the FIFO method? O $3.660 O $6,190 Tomasino's inventory reconds show theowing data at March 31 Mar 17 purchase O $4,090 Beginning inventory Mar 1 100 units at $9 per unit 300 units at $12 per unit 130 units at $13 per unit Mar 8 purchase
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Step 1: Explanation of the concept of FIFO
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Step 2: Calculation of Ending Inventory
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