The following information is available from the inventory records of Neer Company for January: Units Unit...

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The following information is available from the inventory records of Neer Company for January: Units Unit Cost Total Cost Balance at January 1 $9.77 $29,310 Purchases: 3,000 January 6 10.30 January 26 10.71 January 7 January 31 Balance at January 31 1,200 (T or F) Assuming that Neer maintains perpetual inventory records, the ending inventory at January 31, using the FIFO moving-average inventory costing method is $12,606, rounded to the nearest dollar. Sales: 2,000 2,700 (2,500) (4,000) The following information is available from the inventory records of Neer Company for January: Units Unit Cost Total Cost Balance at January 1 $9.77 $29,310 Purchases: 3,000 January 6 10.30 January 26 10.71 January 7 January 31 Balance at January 31 1,200 (T or F) Assuming that Neer maintains perpetual inventory records, the ending inventory at January 31, using the FIFO moving-average inventory costing method is $12,606, rounded to the nearest dollar. Sales: 2,000 2,700 (2,500) (4,000)

Answer rating: 100% (QA)

False The inventory cost will be 12852 Working Endi... View the full answer