Blue stick company just began and the following four inventory purchases in July. July 1st 150 units @OMR 10.1 July 10th 200 Units @ OMR 11.6 July 15th 200 units @ OMR 6.3 July 29th 150 units @ OMR 6.6 A physical count of merchandise inventory on June 31st reveals that there are 250 units on hand. Using the FIFO Perpetual inventory method. The amount allocated to ending inventory for July is a. OMR 1620 O b. OMR 2020 O c. С. OMR 1920 O d. d. OMR 1420

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Q8
Blue stick company just began and the
following four inventory purchases in July.
July 1st 150 units @OMR 10.1
July 10th 200 Units @ OMR 11.6
July 15th 200 units @ OMR 6.3
July 29th 150 units @ OMR 6.6
A physical count of merchandise inventory on
June 31st reveals that there are 250 units on
hand. Using the FIFO Perpetual inventory
method. The amount allocated to ending
inventory for July is
a. OMR 1620
b. OMR 2020
C. OMR 1920
d. OMR 1420
Transcribed Image Text:Blue stick company just began and the following four inventory purchases in July. July 1st 150 units @OMR 10.1 July 10th 200 Units @ OMR 11.6 July 15th 200 units @ OMR 6.3 July 29th 150 units @ OMR 6.6 A physical count of merchandise inventory on June 31st reveals that there are 250 units on hand. Using the FIFO Perpetual inventory method. The amount allocated to ending inventory for July is a. OMR 1620 b. OMR 2020 C. OMR 1920 d. OMR 1420
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