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Reptile [31]
2 years ago
11

Inventory records for Marvin Company revealed the following:

Business
1 answer:
pentagon [3]2 years ago
3 0

Answer:

B. $14,194.

Explanation:

FIFO means first in, first out. It means that the goods purchased first are the first to be sold.

The 1900 units or inventories sold would be taken from :

1. The beginning inventory = 900 x $7.14 = $6,426

2. Mar. 10 Purchase = 560 x $7.57 = $4,239.20

3. The remaining 440 units of inventory sold would be taken from the Mar. 16 Purchase  = 440 x $8.02 = $3,528.80

Total = $14,194

I hope you

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