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DUring the past year, Franklin Fourdires sold 550 wheels. Using the FIFO method of inventory pricing , calculate the dollar value of the ending inventory.

DUring the past year, Franklin Fourdires sold 550 wheels. Using the FIFO method of inventory pricing , calculate the dollar value of the ending inventory. Inventory records for the year as follow:

Date Quantity Cost Total
Jan 1 Beginning Inventory 350 $19 $6,650
July 24 Purchase 200 11 2,200
Aug 28 Purchase 250 12 3,000
Oct 29 Purchase 320 15 4,800
Nov 30 Purchase 500 9 4,500
Total availabe for sale 1620 21,150

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