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Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar. 1 Beginning inventory 1,000 $7.20 Mar. 10 Purchase 600
Inventory records for Marvin Company revealed the following:
Date | Transaction | Number of Units | Unit Cost |
Mar. 1 | Beginning inventory | 1,000 | $7.20 |
Mar. 10 | Purchase | 600 | 7.25 |
Mar. 16 | Purchase | 800 | 7.30 |
Mar. 23 | Purchase | 600 | 7.35 |
Marvin sold 2,300 units of inventory during the month. Ending inventory assuming FIFO would be:
$5,140.
$5,080.
$5,060.
$5,050.
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