The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 100 units @ $4.15 First purchase @ May 7 300 units @ $4.55 Second purchase @ May 17 500 units @ $4.75 Third purchase @ May 23 100 units @ $4.95 Sales @ May 31 900 units @ $7.95 What is the amount of ending inventory assuming the FIFO cost flow method? Multiple Choice $415 $955 $455 $495

The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 100 units @ $4.15 First purchase @ May 7 300 units @ $4.55 Second purchase @ May 17 500 units @ $4.75 Third purchase @ May 23 100 units @ $4.95 Sales @ May 31 900 units @ $7.95 What is the amount of ending inventory assuming the FIFO cost flow method? Multiple Choice $415 $955 $455 $495

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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