10. Addison Hardware began the month of November with 150 large brass switchplates on hand at a cost of $4.00 each. These switchp ates sell for $7.00 each. The following schedule presents the sales and purchases of this item during the month of November.
|
Purchase |
|||
|
Date of Transaction |
Quantity Recieved |
Unit Cost |
Units Sold |
|
November 5 |
|
|
100 |
|
November 7 |
200 |
$4.20 |
|
|
November 9 |
|
|
150 |
|
November 11 |
200 |
4.40 |
|
|
November 17 |
|
|
220 |
|
November 22 |
250 |
4.80 |
|
|
November 29 |
|
|
100 |
If Addison uses FIFO inventory pricing, the value of the inventory on November 30 would be
a. $936
b. $1,046
c. $1,076)
d. $1,104
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