Y uses the FIFO method in computing its inventory. On January 1, 2019, its beginning inventory of 3,500 units consisted of the following:

During 2019, Y purchased the following units:

During 2019, it sold 2,300 units. What is the value of its ending inventory?

a. $13,300

b. $15,300

c. $19,900

d. $22,900

e. None of the above

Transcribed Image Text:

1,000 purchased April 10, 2018, at $1.00 per unit 2,000 purchased June 23, 2018, at $2.00 per unit 500 purchase July 11, 2018, at $3.00 per unit