Homework answers / question archive / Addison, Inc

Addison, Inc

Finance

Share With

Addison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of September:

Sept. 1

Inventory 20 units at $20

4 Sale 10 units

10 Purchase 30 units at $25

17 Sale 20 units

30 Purchase 10 units at $30

If Addison uses FIFO, the cost of the ending merchandise inventory on September 30 is

a.$800

b.$650

c.$700

d.$750