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Abena Ltd sells one type of surfboard and has the following inventory transactions for the month of June: Units Price/unit Opening inventory at 1 June
Abena Ltd sells one type of surfboard and has the following inventory transactions for the month of June:
Units Price/unit
Opening inventory at 1 June 500 $250
Purchases on 4 June 1000 $260
Purchases on 15 June 500 $290
Purchases on 20 June 900 $300
During the year, Abena Ltd sells 2500 surfboards. The company uses the periodic system to manage inventory.What is Abena Ltd amount of the inventory at the end of the month June using the FIFO method?
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