Calculate the Ending inventory on a FIFO

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Reference no: EM132350704

Question - Transactions for the month of June were:

Purchases

 

Sales

June 1

(balance) 3260 @ $3.00

 

June 2

2310 @ $5.30

June 3

8770 @ 2.90

 

June 6

6340 @ 5.30

June 7

4760 @ 3.10

 

June 9

3900 @ 5.30

June 15

7240 @ 3.20

 

June 10

1700 @ 5

June 22

1980 @ 3.30

 

June 18

5640 @ 5

 

 

 

June 25

760 @ 5

Assuming that perpetual inventory records are kept in dollars, the Ending inventory on a FIFO basis is

$15722

$17350

$15522

$16607

Reference no: EM132350704

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