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Find the value of the ending inventory using fifo method

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Question - Ribbons and Bows Craft Supplies had the following purchases of Styrofoam wreaths (at cost) during the year 2020.

Beginning Inventory: January 22 wreaths at $1.19 each

Purchases: April 17 wreaths at $1.25 each

July 21 wreaths at $1.30 each

November 18 wreaths at $1.21 each

the end of the year, there are 24 wreaths remaining. Find the value of the ending inventory using the FIFO method.

Reference no: EM132968644

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