Multiple Choice
Fix-It Hardware began the month of November with 150 large brass switchplates on hand at a cost of $4.00 each.These switchplates sell for $7.00 each.The following schedule presents the sales and purchases of this item during the month of November.
(CMA adapted, Dec 92 #25) Refer to the Fix-It Hardware example.If Fix-It uses FIFO inventory pricing, the value of the inventory on November 30 would be
A) $936
B) $1,046
C) $1,076
D) $1,104
E) $1,204
Correct Answer:

Verified
Correct Answer:
Verified
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