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Discuss calculate the dollar value of the ending inventory

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During the past year, Kool Kats Inc. sold 829 pet bandanas. Inventory records for the year are as follows:

DATE   QUANTITY COST TOTAL
January 1 Beginning Inventory 300 $12 $ 3,600
February 3 Purchase 400 12 4,800
May 12 Purchase 380 11 4,180
June 22 Purchase 220 13 2,860
November 3 Purchase 450 9 4,050
Total available for sale   1,750   $19,490

Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory.

Reference no: EM131757295

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