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10. On December 31, 2009, the Italian Pasta Company's ending inventory consisted of 100 bags of fettuccine a a cost of $0.75 per bag. Throughout

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10. On December 31, 2009, the Italian Pasta Company's ending inventory consisted of 100 bags of fettuccine a a cost of $0.75 per bag. Throughout January 2010, the Italian Pasta Company purchased and sold additional bags of fettuccine. Refer to the table below for additional information. Transaction uany Cost per Bag Total $160 $150 $260 $105 $825 Date 1/10/10 Purchase Sale Purchase Purchase Sale 200 100 400 150 550 S0.80 $1.50 0.65 S0.70 S1.50 1/25/10 1/31/10 Assume that the Italian Pasta Company uses a FIFO perpetual inventory system. Ending inventory at January 31, 2010, is a. $137.50 b. $140.00 c. $142.50 d. $155.00 e.$300.00

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