On June 1, Dollar Hardware, Inc. had an inventory of 300 gas grills costing $100 each. Purchases and sales during June are as follows: What is the cost of Dollar's inventory on June 30 using the FIFO method?
A) $15,000
B) $16,000
C) $16,500
D) $18,000

Question

On June 1, Dollar Hardware, Inc. had an inventory of 300 gas grills costing $100 each. Purchases and sales during June are as follows:  What is the cost of Dollar's inventory on June 30 using the FIFO method?
A) $15,000 
B) $16,000 
C) $16,500 
D) $18,000

Quizplus · Accepted Answer

The Answer of On June 1, Dollar Hardware, Inc. had an inventory of 300 gas grills costing $100 each. Purchases and sales during June are as follows:  What is the cost of Dollar's inventory on June 30 using the FIFO method?
A) $15,000 
B) $16,000 
C) $16,500 
D) $18,000