Question: Given the following inventory activity, what is ending inventory using the perpetual FIFO costing method? (Round any intermediary calculations to the nearest cent and your
Given the following inventory activity, what is ending inventory using the perpetual FIFO costing method? (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.) Date Beginning Balance September 17 September 24 September 29 Quantity. 140 40 70 20 Unit Cost $5.00 $3.50 Purchase Sale Purchases $4.75 A. 70 units @ $5.00 and 40 units @ $3.50 and 20 units @ $4.75 B. 120 units @ $5.00 and 10 units $4.75 C. 120 units @ $5.00 and 10 units @ $3.50 D. 130 units at $4.42
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