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264 ADM Corporation uses the perpetual inventory system and had the following information available for 2019: Units Unit Cost Total Cost Jan 1 Beginning inventory
264 ADM Corporation uses the perpetual inventory system and had the following information available for 2019: Units Unit Cost Total Cost Jan 1 Beginning inventory 15 $4.00 $ 60 20 Purchase 60 4.40 21 Sale 65 Jul 25 Purchase 30 4.20 126 Oct 20 Purchase 45 4.80 216 Nov 15 Sale 75 Assume that the company uses the FIFO cost method. The value of the inventory after the Oct 20 purchase was (Use unrounded numbers in your calculations but round your final answer to the nearest cent.) $386.00 $277.65 $624.29 $398.25 None of the above
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