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MBP Company follows FIFO for its inventory accounting. Here is the information about its inventory during January 2020: Beginning Inventory: 1,000 units at $10. 1/2/2020:
MBP Company follows FIFO for its inventory accounting. Here is the information about its inventory during January 2020: Beginning Inventory: 1,000 units at $10. 1/2/2020: Purchase 3,000 units at $11. 1/5/2020 Sell 1,500 units. 1/6/2020: Purchased 2,000 units at $12. 1/15/2020: Sold 2,000 units. January 31, 2020 Ending Inventory is:
A) $29,000
B) $29,500
C) $30,000
D) $35,000
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