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Monroe Company had a beginning inventory of 343 cans of paint at $11.30 each on January 1 at a cost of $3,875.90. During the year,
Monroe Company had a beginning inventory of 343 cans of paint at $11.30 each on January 1 at a cost of $3,875.90. During the year, the following purchases were made: February 15 273 cans at $13.30 April 30 120 cans at $13.80 July 1 110 cans at $14.30 Monroe marks up its goods at 40% on cost. At the end of the year, ending inventory showed 135 units remaining. Calculate the amount of sales assuming a FIFO flow of inventory. (Round your answer to the nearest cent.)
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