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A company has the following purchases and sales during October. Using the FIFO periodic inventory method, what is the value of the inventory on October

A company has the following purchases and sales during October. Using the FIFO periodic inventory method, what is the value of the inventory on October 15 after the sale?

image text in transcribed A company has the following purchases and sales during October. Using the FIFO periodic inventory method, what is the value of the inventory on October 15 after the sale? \begin{tabular}{lllr} Date & \multicolumn{1}{c}{ Activities } & Units Acquired at Cost & Units Sold at Retail \\ October 1 & Beginning inventory & 15 units @ $27=$405 & \\ October 5 & Purchase & 10 units @28=$280 & \\ October 12 & Purchase & 20 units @29=$580 & 30 units sold \end{tabular}

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