Solution-Compute the ending inventory

Compute the ending inventory

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Reference no: EM132557596

Question - Hefty Company wants to know the effect of different inventory methods on financial statements. The information provided below relates to beginning inventory and purchases for the current year:

January 2	Beginning Inventory	500 units at $3.00 per unit
April 7	Purchased	1,100 units at $3.20 per unit
June 30	Purchased	400 units at $4.00 per unit
December 7	Purchases	1,600 units at $4.40 per unit

Sales during the year were 2,700 units at $5.00. If Hefty used the first-in first-out method, compute the ending inventory?

a. $2,780.

b. $3,960.

c. $9,700.

d. $10,880.

Reference no: EM132557596

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Compute the ending inventory

Reference no: EM132557596

Reference no: EM132557596

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