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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
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