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Compute the Ending inventory under FIFO

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Reference no: EM132837234

Question - Vaughn Shutters has the following inventory information.

Nov.  1 Inventory 60 units @ $5.00

Nov.  8 Purchase120 units @ $5.00

Nov.  17 Purchase40 units @ $6.00

Nov.  25 Purchase80 units @ $6.00

A physical count of merchandise inventory on November 30 reveals that there are 60 units on hand. Assume a periodic inventory system is used. Compute the Ending inventory under FIFO?

a. $1308.

b. $360.

c. $1362.

d. $300.

Reference no: EM132837234

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