A physical count of merchandise inventory on june 30, Ask an Expert

Accounting

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?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M943771

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