Acompanyhasabeginninginventoryof$40,000andpurchasesduringtheyearof$110,000.Thebeginninginventoryconsistedof3,000unitsand7,000unitswerepurchasedduringtheyear.3,480unitsremaininendinginventory.Thevalueoftheendinginventoryusingtheaverage-costmethodwillbe:
A. $38,280.
B. $46,389.
C. $52,200.
D. $97,800.
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Toyland's inventory records show the following data at January 31:Beginning inventory Jan. 1 is 250 units at $8 per unitJan. 10 purchase 300 units at $10 per unitJan. 22 purchase 110 units at $11 per unitAt January 31, 210 units are still on hand. What is the value of the ending inventory at January 31 if Toyland uses the FIFO method?
A. $1,680
B. $2,500
C. $2,210
D. $3,000
Toyland's inventory records show the following data at January 31:Beginning inventory Jan. 1 is 250 units at $8 per unitJan. 10 purchase300 units at $10 per unitJan. 22 purchase110 units at $11 per unitAt January 31, 210 units are still on hand. What is the value of the ending inventory at January 31 if Toyland uses the LIFO method?
A. $1,680
B. $2,500
C. $2,210
D. $3,000
Given the following data, calculate the cost of ending inventory using the FIFO costing method.
A. $720
B. $740
C. $915
D. $545
Given the following data, calculate the cost of ending inventory using the LIFO costing method.
A. $2,069
B. $2,274
C. $2,425
D. $1,940