Grape Gratuities Company has the following inventory data: A physical count of merchandise inventory on July 30 reveals that there are 50 units on hand.Using the FIFO inventory method, the amount allocated to ending inventory for July is
A)$1,170.
B)$1,010.
C)$1,070.
D)$1,100.

Question

Grape Gratuities Company has the following inventory data:  A physical count of merchandise inventory on July 30 reveals that there are 50 units on hand.Using the FIFO inventory method, the amount allocated to ending inventory for July is
A)$1,170. 
B)$1,010. 
C)$1,070. 
D)$1,100.

Quizplus · Accepted Answer

The Answer of Grape Gratuities Company has the following inventory data:  A physical count of merchandise inventory on July 30 reveals that there are 50 units on hand.Using the FIFO inventory method, the amount allocated to ending inventory for July is
A)$1,170. 
B)$1,010. 
C)$1,070. 
D)$1,100.

Grape Gratuities Company Has the Following Inventory Data: a Physical