Ask Question
24 March, 11:27

Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 162 units $972 June 10 216 units 1512 June 15 216 units 1728 June 28 162 units 1458 $5670 A physical count of merchandise inventory on June 30 reveals that there are 216 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is

+4
Answers (1)
  1. 24 March, 12:20
    0
    Inventory = $1,890

    Explanation:

    Giving the following information:

    Tamarisk, Inc. just began business and made the following four inventory purchases in June:

    June 1: 162 units $972

    June 10: 216 units $1512

    June 15: 216 units $1728 (1728/216=8)

    June 28: 162 units $1458 (1458/162=9)

    A physical count of merchandise inventory on June 30 reveals that there are 216 units on hand.

    FIFO (first-in, first-out)

    Inventory = 162*9 + 54*8 = $1,890
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 162 units $972 June 10 216 units 1512 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers