Checkers uses the periodic inventory system. For the current month, the beginning inventory consisted of 7,200 units that cost $12

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Checkers operates using the periodic inventory system. For the current month, the beginning inventory consisted of 7,200 units, each costing $12. During the month, the company made two purchases: 3,000 units at $13 each and 12,000 units at $13.50 each. Additionally, Checkers sold 12,900 units during the month. Using the FIFO (First-In, First-Out) method, what is the value of the ending inventory? a. $120,438. b. $111,600. c. $125,550. d. $113,700.

Anonymous · Accepted Answer

C. $125,550Explanation:Given thatAt beginning = 7200unit at $12 each During = 3000unit at $13 = 12000 unit at $13.50Sold = 12900 unit.Therefore, USING FIFOUnit sold = (7200 × 12) + (3000 × 13) + (2700 × 13.50)= 86400 + 39000 + 36450= $161850.Thus, inventory remaining= (12000 - 2700) × 13.50= 9300 × 13.50= $ 125,550Ending inventory = $125,550

Anonymous · Answer

answer; ///i believe that the correct answer is (a) it is the means by which a person earns money;

Anonymous · Answer

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Checkers uses the periodic inventory system. For the current month, the beginning inventory consisted of 7,200 units that cost $12

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