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Determine the costs assigned to ending inventory

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Reference no: EM132329186

Question :

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units.

Ending inventory at January 31 totals 150 units.

Units Unit Cost

Beginning inventory on January 1 323 $ 3.33

Purchase on January 9 83 3.23

Purchase on January 25 133 3.34

Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory. When costs are assigned based on the FIFO method.

Reference no: EM132329186

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