62. Inventory records for Dunbar Incorporated revealed the following:
Date
Transaction
Number
of Units
Unit
Cost
Apr. 1
Beginning inventory
500
$2.40
Apr. 20
Purchase
400
2.50
Dunbar sold 700 units of inventory during the month. Ending inventory assuming FIFO would be:
a. $500.
b. $490.
c. $470.
d. $480.
63. Inventory records for Dunbar Incorporated revealed the following:
Date
Transaction
Number
of Units
Unit
Cost
Apr. 1
Beginning inventory
500
$2.40
Apr. 20
Purchase
400
2.50
Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming FIFO would be:
a. $1,730.
b. $1,700.
c. $1,720.
d. $1,710.
64. Inventory records for Dunbar Incorporated revealed the following:
Date
Transaction
Number
of Units
Unit
Cost
Apr. 1
Beginning inventory
500
$2.40
Apr. 20
Purchase
400
2.50
Dunbar sold 700 units of inventory during the month. Ending inventory assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):
a. $502.
b. $490.
c. $489.
d. $480.
65. Inventory records for Dunbar Incorporated revealed the following:
Date
Transaction
Number
of Units
Unit
Cost
Apr. 1
Beginning inventory
500
$2.40
Apr. 20
Purchase
400
2.50
Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):
a. $1,711.
b. $1,700.
c. $1,720.
d. $1,708.
66. Inventory records for Marvin Company revealed the following:
Date
Transaction
Number
of Units
Unit
Cost
Mar. 1
Beginning inventory
1,000
$7.20
Mar. 10
Purchase
600
7.25
Mar. 16
Purchase
800
7.30
Mar. 23
Purchase
600
7.35
Marvin sold 2,300 units of inventory during the month. Ending inventory assuming LIFO would be:
a. $5,040.
b. $5,055.
c. $5,075.
d. $5,135.
67. Inventory records for Marvin Company revealed the following:
Date
Transaction
Number
of Units
Unit
Cost
Mar. 1
Beginning inventory
1,000
$7.20
Mar. 10
Purchase
600
7.25
Mar. 16
Purchase
800
7.30
Mar. 23
Purchase
600
7.35
Marvin sold 2,300 units of inventory during the month. Ending inventory assuming FIFO would be:
a. $5,140.
b. $5,080.
c. $5,060.
d. $5,050.
68. Inventory records for Marvin Company revealed the following:
Date
Transaction
Number
of Units
Unit
Cost
Mar. 1
Beginning inventory
1,000
$7.20
Mar. 10
Purchase
600
7.25
Mar. 16
Purchase
800
7.30
Mar. 23
Purchase
600
7.35
Marvin sold 2,300 units of inventory during the month. Ending inventory assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):
a. $5,087.
b. $5,107.
c. $5,077.
d. $5,005.
69. Inventory records for Marvin Company revealed the following:
Date
Transaction
Number
of Units
Unit
Cost
Mar. 1
Beginning inventory
1,000
$7.20
Mar. 10
Purchase
600
7.25
Mar. 16
Purchase
800
7.30
Mar. 23
Purchase
600
7.35
Marvin sold 2,300 units of inventory during the month. Cost of goods sold assuming LIFO would be:
a. $16,800.
b. $16,760.
c. $16,540.
d. $16,660.
70. Inventory records for Marvin Company revealed the following:
Date
Transaction
Number
of Units
Unit
Cost
Mar. 1
Beginning inventory
1,000
$7.20
Mar. 10
Purchase
600
7.25
Mar. 16
Purchase
800
7.30
Mar. 23
Purchase
600
7.35
Marvin sold 2,300 units of inventory during the month. Cost of goods sold assuming FIFO would be:
a. $16,800.
b. $16,760.
c. $16,540.
d. $16,660.
71. Inventory records for Marvin Company revealed the following:
Date
Transaction
Number
of Units
Unit
Cost
Mar. 1
Beginning inventory
1,000
$7.20
Mar. 10
Purchase
600
7.25
Mar. 16
Purchase
800
7.30
Mar. 23
Purchase
600
7.35
Marvin sold 2,300 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):
a. $16,733.
b. $17,408.
c. $16,713.
d. $16,089.
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