Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following...
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Accounting
Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following
| Jan 1 | Beginning inventory | 300 | units | @ | $ | 2.30 | |
| Jan 12 | Purchase | 400 | units | @ | $ | 2.10 | |
| Jan 18 | Sales | 500 | units | @ | $ | 3.80 | |
| Jan 21 | Purchase | 300 | units | @ | $ | 2.40 | |
| Jan 25 | Purchase | 100 | units | @ | $ | 2.20 | |
| Jan 31 | Sales | 450 | units | @ | $ | 3.80 | |
Assuming Chase uses a FIFO cost flow method, the ending inventory on January 31 is:
Multiple Choice
$345.
$340.
$330.
$1,020.
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