Assume the use of periodic inventory procedure for the following six questions. 1 answer below »

Jack Company began the accounting period with inventory of 3,000 units at USD 30 each. During the period, the company purchased an additional 5,000 units at USD 36 each and sold 4,600 units.

Assume the use of periodic inventory procedure for the following six questions.

Cost of ending inventory using FIFO is:

a. USD 104,400.

b. USD 122,400.

c. USD 120,000.

d. USD 147,600.

e. None of the above.

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