Question: dont understand what to add in the fifo method d. writing down an asset to its real value each accounting period. 15. A company just
d. writing down an asset to its real value each accounting period. 15. A company just starting business made the following four inventory purchases in June: I June 11: 50 units having a total cost of $3901 June 10: 200 units having a total cost of $5851 June 15: 200 units having a total cost of $6301 June 28: 150 units having a total cost of $5101 Total purchases for the month of June cost $2,115 A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is a. $683. b. $825. c. $1,290. d. $975
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