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Inventory records for Eliza Company revealed the following Number of Date Transaction Units Unit Cost March 1 Beginning Inventory 980 $7.26 March 10 Purchase 560 7.76 March 16 March 23 Purchase Purchase 451 8.36 580 9.06 Eliza sold 1,850 units of inventory during the month. Ending Inventory assuming FIFO would be (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice O $9,240 $1,489 $5.709 $7,115

Inventory records for Eliza Company revealed the following Number of Date Transaction Units Unit Cost March 1 Beginning Inventory 980 $7.26 March 10 Purchase 560 7.76 March 16 March 23 Purchase Purchase 451 8.36 580 9.06 Eliza sold 1,850 units of inventory during the month. Ending Inventory assuming FIFO would be (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice O $9,240 $1,489 $5.709 $7,115

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Inventory records for Eliza Company revealed the following: Number of Date Transaction Units Unit Cost March 1 Beginning Inventory 980 $ 7.26 March 10 Purchase 560 7.76 March 16 March 23 Purchase Purchase 451 8.36 580 9.06 Eliza sold 1,850 units of inventory during the month. Ending inventory assuming FIFO would be (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice O C C $9,240 $1,489 $5,709 $7,115
Transcribed Image Text:Inventory records for Eliza Company revealed the following: Number of Date Transaction Units Unit Cost March 1 Beginning Inventory 980 $ 7.26 March 10 Purchase 560 7.76 March 16 March 23 Purchase Purchase 451 8.36 580 9.06 Eliza sold 1,850 units of inventory during the month. Ending inventory assuming FIFO would be (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice O C C $9,240 $1,489 $5,709 $7,115
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