here is the quiz. bus_591_-_quiz_3.docx A.docx - here is the quiz bus_591_quiz_3 At May 1 2012 Heineken Company had beginning inventory consisting of

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here is the quiz. bus_591_-_quiz_3.docx At May 1, 2012, Heineken Company had beginning inventory consisting of 100 units with a unit cost of \$7. During May, the company purchased inventory as follows: 200 units at \$7 300 units at \$8 The company sold 500 units during the month for \$12 per unit. Heineken uses the average cost method. Heineken's gross profit for the month of May is (Points : 1) \$2,250 \$3,750 \$4,500 \$6,000 1 of 10
Quark Inc. just began business and made the following four inventory purchases in June: June 1 150 units \$ 825 June 10
200 units 1,120 June 15 200 units 1,140 June 28
150 units 885 \$3,970 A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is (Points : 1) \$1,385. \$1,425. \$1,455. \$1,475.
2 of 10 Which of the following is not considered in computing net cost of purchases? (Points : 1) Purchases returns and allowances Purchases Freight paid on purchased goods Freight paid on goods shipped to customers 3 of 10
Atom Company just began business and made the following four inventory purchases in June: June 1 150 units \$ 825 June 10
200 units 1,120 June 15 200 units 1,140 June 28

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• Spring '19
• Tom Pope