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AAA Co. uses a periodic inventory system and has the following information in regard to its inventory: Beginning inventory 300 units @ 20 $6,000 Purchase
AAA Co. uses a periodic inventory system and has the following information in regard to its inventory:
Beginning inventory | 300 units @ 20 | $6,000 |
Purchase on January 25 | 400 units @ 21 | 8,400 |
Purchase on March 15 | 300 units @ 22 | 6,600 |
Purchase on October 2 | 500 units @ 23 | 11,500 |
Goods available for sale | $32,500 |
There are 700 units in ending inventory. What is the amount of the ending inventory using the FIFO method?
A.$6,000
B.$11,500
C$14,400
D.$15,900
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