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A company purchased 200 units for $20 each on January 31. It purchased 260 units for $26 on February 28. lt sold a total of
A company purchased 200 units for $20 each on January 31. It purchased 260 units for $26 on February 28. lt sold a total of 150 units for $45 each from March 1 through December 31. What is the amount of ending inventory on December 31, if the company uses the first -in, first-out (FIFo) inventory costing method? (Assume that the company uses a perpetual inventory system.) $2, 850 $20, 150 $6, 200 $8, 060
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