Dunbar sold 630 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $1,255. $627.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Inventory records for Dunbar Incorporated revealed the following:
Number
Unit
Date
Transaction
of Units
Cost
Apr. 1 Beginning inventory
470
$2.41
Apr. 20 Purchase
420
2.67
Dunbar sold 630 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate
calculations. Round your answer to the nearest dollar amount.)
Multiple Choice
$1,255.
$627.
Transcribed Image Text:Inventory records for Dunbar Incorporated revealed the following: Number Unit Date Transaction of Units Cost Apr. 1 Beginning inventory 470 $2.41 Apr. 20 Purchase 420 2.67 Dunbar sold 630 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $1,255. $627.
Multiple Choice
$1,255.
$627.
$1,133.
$694.
Transcribed Image Text:Multiple Choice $1,255. $627. $1,133. $694.
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