chloeroebuck2021
Answered

Discover the answers you need at Westonci.ca, where experts provide clear and concise information on various topics. Connect with professionals ready to provide precise answers to your questions on our comprehensive Q&A platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Jacobs Company had inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit. On June 12, it purchased 20 units at $14 per unit. On June 17, it sold 30 units. Using FIFO, what is the value of the inventory at June 17 after the sale?

a. $140
b. $160
c. $210
d. $380

Sagot :

lawrencemma2165
The answer is c. $210
Snor1ax

Answer: C

Explanation:

In FIFO, determine the cost of the inventory that is the oldest and multiply that cost by the amount of inventory that was sold

Value of Inventory = 15 * 14 = $210

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.