Dollar amount of inventory at beginning of the month

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Reference no: EM133633599

Question: At the beginning of the month, Groovy Grapes Corp. had 10 units (which the ?rm acquired for $60/unit) in beginning inventory. The ?rm purchased 40 more units for $48/unit the ?rst week of the month, and 50 more units for $45/unit the third week of the month. The ?rm sold 80 units for $70/unit during this month. If the ?rm uses the FIFO cost ?ow assumption, how much high? is the dollar amount of inventory at the end of the month relative to the dollar amount of inventory at beginning of the month?

Reference no: EM133633599

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