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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 @ 15 $4,500 Purchase
AAA Co. uses a periodic inventory system and has the following information in regard to its inventory:
Beginning inventory | 300 units @ 15 | $4,500 |
Purchase on January 25 | 400 units @ 16 | 6,400 |
Purchase on March 15 | 300 units @ 17 | 5,100 |
Purchase on October 2 | 500 units @ 18 | 9,000 |
Goods available for sale | $25,000 |
There are 650 units in ending inventory. What is the amount of the ending inventory using the FIFO method?
A. $9,000
B. $10,900
C. $11,550
D. $4,500
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