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Brisket Co uses periodic FIFO to account for its inventory. The following transactions of Widget S400 took place during the month of February. The opening
Brisket Co uses periodic FIFO to account for its inventory. The following transactions of Widget S400 took place during the month of February. The opening inventory was 1,900 units at a cost of $5.00 each.
Feb 3: purchased 1,100 units @ $9.00 each
Feb 12: sold 1,100 units @ $24.00 each
Feb 15: purchased 400 units @ $7.00 each
Feb 23: sold 500 units @ $26.00 each
What is the value of the ending inventory?
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