Question
: A company made the following merchandise purchases and sales during the month of May: May 1 purchased 380 units at $15 each May 5
: A company made the following merchandise purchases and sales during the month of May:
| May 1 purchased | 380 | units at | $15 each |
| May 5 purchased | 270 | units at | $17 each |
| May 10 sold | 400 | units at | $50 each |
| May 20 purchased | 300 | units at | $22 each |
| May 25 sold | 400 | units at | $50 each |
There was no beginning inventory. If the company uses the FIFO periodic inventory method, what would be the cost of the ending inventory?
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Management Accounting In Health Care Organizations
Authors: David W. Young
3rd Edition
1118653629, 978-1118653623
