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A Company Just Starting Business Made the Following Four Inventory

Question 120

Multiple Choice

A company just starting business made the following four inventory purchases in June: A company just starting business made the following four inventory purchases in June: A physical count of merchandise inventory on June 30 reveals that there are 100 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is A) ¥4,400. B) ¥24,000. C) ¥23,600. D) ¥24,533. A physical count of merchandise inventory on June 30 reveals that there are 100 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is


A) ¥4,400.
B) ¥24,000.
C) ¥23,600.
D) ¥24,533.

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