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What is the balance in inventory

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Question - The SOS Corporation uses FIFO for its inventory accounting. It has an initial Inventory of 1430 widgets on 12/31/2012 with a unit cost of $3.0 (total cost of 4290.0). The company bought 890 widgets with unit cost of $3.0 on 2/3/13. The company bought 80 with a unit cost of $3.0 on 6/6/13. Finally, the company 600 bought widgets with a unit cost of $2.5 on 9/9/13. During 2013, the company sold 2930 number of widgets. What is the balance in Inventory on 12/31/2013?

Reference no: EM132841711

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