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Baker Bakery Company just began business and made the following four inventory purchases in June:

June 1 150 units $780
June 10 200 units 1,170
June 15 200 units 1,260
June 28 150 units 990
$4,200

A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M943771

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