Use the following information for questions
A company just starting its business made the following four inventory purchases in June:
On June 25, the company made its first sale when a local customer purchased 500 units for $3,500.The company uses a perpetual inventory system.
-Using the FIFO cost formula, the cost of the ending inventory on June 30 is
A)$645.
B)$695.
C)$1,650.
D)$1,700.

Question

Use the following information for questions 
A company just starting its business made the following four inventory purchases in June:
  On June 25, the company made its first sale when a local customer purchased 500 units for $3,500.The company uses a perpetual inventory system.
-Using the FIFO cost formula, the cost of the ending inventory on June 30 is
A)$645. 
B)$695. 
C)$1,650. 
D)$1,700.

Quizplus · Accepted Answer

The Answer of Use the following information for questions 
A company just starting its business made the following four inventory purchases in June:
  On June 25, the company made its first sale when a local customer purchased 500 units for $3,500.The company uses a perpetual inventory system.
-Using the FIFO cost formula, the cost of the ending inventory on June 30 is
A)$645. 
B)$695. 
C)$1,650. 
D)$1,700.

Use the Following Information for Questions