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Roki IncUses the Periodic Inventory System ? If Roki Uses the FIFO Inventory Method, the Amount

Question 135

Multiple Choice

Roki Inc.uses the periodic inventory system. June 1 On hand, 50 units @ $15.00 each $750.005 Purchased 115 units @, $15.10 each 1,736.5014 Purchased 75 units @ $15.20 each 1,140.00 Total cost of goods available for sale $3.626.5030 On hand, 90 units \begin{array}{rlr}1 & \text { On hand, 50 units @ \$15.00 each } & \$ 750.00 \\5 & \text { Purchased 115 units @, \$15.10 each } & 1,736.50 \\14 & \text { Purchased 75 units @ \$15.20 each } & \underline{1,140.00} \\& \text { Total cost of goods available for sale } & \underline{\$ 3.626 .50}\\30&\text { On hand, } 90 \text { units }\\\end{array} ? If Roki uses the FIFO inventory method, the amount assigned to the June 30 inventory would be


A) $1,354.00
B) $1,590.42
C) $1,594.00
D) $1,366.50

Correct Answer:

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