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accounting question Question 5 1 pts The following information relates to an item of inventory using the perpetual inventory system and rst in rst out

accounting question

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Question 5 1 pts The following information relates to an item of inventory using the perpetual inventory system and rst in rst out (FIFO). The balance on hand at the end of a particular day of the inventory item is provided below: Units on Hand Unit cost $ Total cost $ 28 115.00 3,220 136 118.00 16,048 On the following day there was a purchase of 109 units of inventory at a unit cost $119.00/unit. What is the total cost of inventory on hand after this purchase? Round your answer to the nearest cent if necessary

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