TeCo uses the perpetual method and FIFO costing. TeCo's December 31, 20X5 inventory consists of 800 units

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TeCo uses the perpetual method and FIFO costing. TeCo's December 31, 20X5 inventory consists of 800 units @ $7. In 20X6, TeCo's merchandise purchases and sales are as follows:

PurchasesSales

February 241,700 @ $9

June 112,000 @ $25

August 172,100 @ $11

September 1 1,600 @ $28

October 193,000 @ $14

November 292,700 @ $30

TeCo's December 31, 20X6 ending inventory is...

a. $18,200

b. $12,600

c. $11,700

d. $10,100

Related Book For answer-question

Fundamentals Of Cost Accounting

ISBN: 9781264100842

7th Edition

Authors: William Lanen

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Posted Date: Jan 29, 2024 07:13 AM

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TeCo uses the perpetual method and FIFO costing. TeCo's December 31, 20X5 inventory consists of 800 units

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Fundamentals Of Cost Accounting

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