Our company had the following balances and transactions during the current year related to merchandise inventory.Beginning merchandise inventory on January 1 100 units at $75 per unitPurchase on February 14Sale on August 21$4,000What would be the company's ending merchandise inventory in dollars on December 31 if the company used perpetual, firstin, first out (FIFO) method?O $3,750$11,500100 units at $80 per unitO $11.750150 units

Fifo method is a first in first out method. It is an inventory accounting method.Under this method…

Answered: What would be the company's ending…

What would be the company's ending merchandise inventory in dollars on December 31 if the company used perpetual, firs in, first out (FIFO) method?

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Chapter11: Work Sheet And Adjusting Entries

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Problem 7E: On December 31, Marchant Company took a physical count of its merchandise inventory. It operates...

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Question

Our company had the following balances and transactions during the current year related to merchandise inventory.
Beginning merchandise inventory on January 1 100 units at $75 per unit
Purchase on February 14
Sale on August 21
$4,000
What would be the company's ending merchandise inventory in dollars on December 31 if the company used perpetual, first
in, first out (FIFO) method?
O $3,750
$11,500
100 units at $80 per unit
O $11.750
150 units

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