What ending inventory under fifo is

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Concord Shutters has the following inventory information.

Nov. 1 Inventory 60 units @ $5.00

8 Purchase 120 units @ $6.00

17 Purchase 60 units @ $7.00

25 Purchase 60 units @ $8.00

Problem 1: A physical count of merchandise inventory on November 30 reveals that there are 60 units on hand. Assume a periodic inventory system is used. Ending inventory under FIFO is

Option 1: $300.

Option 2: $1482.

Option 3: $480.

Option 4: $1428.

Reference no: EM132858986

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