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Question 89

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Use the following information to answer questions
Abalone Corp.uses a periodic inventory system.
Use the following information to answer questions Abalone Corp.uses a periodic inventory system. A physical count of merchandise inventory on July 31 shows that 25 units are on hand. -Under the FIFO cost method, ending inventory at July 31 was A) $1,500. B) $1,480. C) $500. A physical count of merchandise inventory on July 31 shows that 25 units are on hand.
-Under the FIFO cost method, ending inventory at July 31 was


A) $1,500.
B) $1,480.
C) $500.

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