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Calculate the cost of ending inventory

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Reference no: EM132899429

Problem - Mika Enterprises uses a perpetual inventory system. The company had the following inventory and purchases for the month of March:

Mar. 1 Beginning Inventory 35 @ $19.60

Mar. 8 Purchase 100 @ $25.81

Mar. 16 Sale 42 @ $28.85

Required - Calculate the cost of ending inventory assuming the company uses a FIFO cost flow system.

a. $686

b. $2055

c. $2400

d. $867

Reference no: EM132899429

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