Phoenix Ltd sells hard disks of similar make and model and reports an opening inventory on 1 July 2012 of 20 units purchased at $60.Its purchases during are as follows: September 90 units @ $70
November 110 units @ $75
March 70 units @ $80
Phoenix Ltd sold 260 units during the year.
What is the cost of ending inventory using FIFO and weighted average method,respectively (rounded to the nearest dollar)?
A) $2,100; $2,209
B) $2,100; $2,250
C) $2,400; $2,209
D) $2,400; $2,250
E) E: None of the given answers.

Question

Quizplus · Accepted Answer

The Answer of Phoenix Ltd sells hard disks of similar make and model and reports an opening inventory on 1 July 2012 of 20 units purchased at $60.Its purchases during are as follows: September 90 units @ $70
November 110 units @ $75
March 70 units @ $80
Phoenix Ltd sold 260 units during the year.
What is the cost of ending inventory using FIFO and weighted average method,respectively (rounded to the nearest dollar)?
A) $2,100; $2,209
B) $2,100; $2,250
C) $2,400; $2,209
D) $2,400; $2,250
E) E: None of the given answers.

Phoenix Ltd Sells Hard Disks of Similar Make and Model