Question: McGregor Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company purchased inventory items as follows

McGregor Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company purchased inventory items as follows

McGregor Enterprises started the period with 80 units in beginning inventory that McGregor sold 230 units after purchase 3 for $18.00 each.

8. McGregors cost of goods sold under FIFO would be: A. $1,950. B. $2,055. C. $2,079. D. $2,190.

9. McGregors ending inventory under LIFO would be: A. $2,370. B. $2,265. C. $2,190. D. $2,130.

10. McGregors ending inventory under weighted average would be approximately: A. $2,325. B. $2,250. C. $1,998. D. $1,980.

Purchase No. of Items Cost 2 3 200 $ 9.00 150 $ 9.30 50 $ 10.50

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