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Quark Inc. just began business and made the following four inventory purchases in June: ...

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Accounting

Quark Inc. just began business and made the following four inventory purchases in June:

June 1 150 units $ 990

June 10 200 units 1,344

June 15 200 units 1,368

June 28 150 units 1,062

$4,764

A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is

$1,320.

$1,404.

$1,326.

$1,416.

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