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Addison, Inc. uses a perpetual inventory system. The following is information about one inventory item...

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Accounting

Addison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of September: Sep. 1 Inventory 20 units at $20 4 Sold 10 units 10 Purchased 30 units at $25 17 Sold 20 units 30 Purchased 10 units at $30 If Addison uses FIFO, the cost of the ending merchandise inventory on September 30 is a. $750 b. $650 c. $700 d. $800

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