Solved

Roki IncUses the Periodic Inventory System and Has the Following Data

Question 58

Multiple Choice

Roki Inc.uses the periodic inventory system and has the following data for the month of June:
 June 1 On hand, 50 units @$15.00 each 750.005 Purchased 115 units $15.10 each 1,736.5014 Purchased 75 units @$15.20 each 1,140.00 Total cost of goods avalable for sale $3,626.5030 On hand, 90 units \begin{array} { r l r } \text { June } & 1\quad \text { On hand, 50 units } @ \$ 15.00 \text { each } & 750.00\\&5\quad \text { Purchased 115 units } \$ 15.10 \text { each } & 1,736.50 \\&14 \quad \text { Purchased } 75 \text { units } @ \$ 15.20 \text { each } &1,140.00 \\&\quad \text { Total cost of goods avalable for sale } &\$ 3,626.50 \\&30\quad \text { On hand, 90 units } & \\ &\end{array}


-If Roki uses the FIFO method,the amount assigned to the June 30 inventory would be


A) $1,354.00.
B) $1,366.50.
C) $1,590.42.
D) $1,594.00.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions