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algol [13]
3 years ago
13

Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 162 units $972 June 10 216 un

its 1512 June 15 216 units 1728 June 28 162 units 1458 $5670 A physical count of merchandise inventory on June 30 reveals that there are 216 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is
Business
1 answer:
Marta_Voda [28]3 years ago
4 0

Answer:

Inventory= $1,890

Explanation:

Giving the following information:

Tamarisk, Inc. just began business and made the following four inventory purchases in June:

June 1: 162 units $972

June 10: 216 units  $1512

June 15: 216 units $1728 (1728/216=8)

June 28: 162 units $1458 (1458/162=9)

A physical count of merchandise inventory on June 30 reveals that there are 216 units on hand.

FIFO (first-in, first-out)

Inventory= 162*9 + 54*8= $1,890

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