Question
Aubergine Corporation uses the periodic inventory system to record its inventory. The following information was available for the month of November: Date ..............................................Units Cost Per
Aubergine Corporation uses the periodic inventory system to record its inventory. The following information was available for the month of November:
Date ..............................................Units Cost Per Unit Total Cost
Nov 1 Beginning Inventory ............11.......... $30 ..............$330
Nov 8 Purchase .............................15........... 32 ..................480
Nov 15 Purchase............................18............35...................630
Nov 22 Purchase............................20............36...................720
...............................................Total 64................................ $2160
A total of 35 units were sold during the period. Assuming the use of the first-in, first-out (FIFO) cost formula, what is the cost of the ending inventory?
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Anti Audit Warfare
Authors: Business Management Daily
7th Edition
1540747182, 978-1540747181
