company has inventory of 15 units at a cost of $12 each on August 1. On August 5

Question

company has inventory of 15 units at a cost of $12 each on August 1. On August 5 they purchased 10 units at $13 per unit. On August 12 they purchased 20 units at $14 per unit. On August 15, they sold 30 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 12 after the sale? A) $140 B) $160. C) $210. D) $380. E) $590. In reimbursing the petty cash fund: A) Cash is debited. B) Petty Cash is credited. C) Petty Cash is debited. D) Appropriate expense accounts are debited. E) No expenses àare recorded. 22. The interest accrued on $3,000 at 7% for 60 days is: A) S 36. B) S 42. C) $252 D) $180. E) S420. 23. a company's unadjusted trial balanc Accounts Receivable, debit balance of $97,2Allowance for Doubtful llt Rad Dehts Exnense, assum

Explanation / Answer

21 Value of inventory = (15*14)= 210 Option C is correct

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