A company has beginning inventory of 42 units at a cost of $13.00 each on October...
A company has beginning inventory of 42 units at a cost of $13.00 each on October 1. On October 5, it purchases 27 units at $14.00 per unit. On October 12 it purchases 37 units at $15.00 per unit. On October 15, it sells 81 units. Using the FIFO periodic inventory method, what is the value of the inventory at October 15 after the sale?
Homework Answers
| Ending inventory = | Avaialble goods - sale units | ||||
| (42+27+37)-81 | |||||
| 25 | |||||
| cost of ending iventory= | 25*15 | ||||
| 375 | |||||
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A company has beginning inventory of 42 units at a cost of
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