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Novak has the following inventory data: Nov. 1 Inventory 37 units @ $7.30 each 8 Purchase 146 units @ $7.85 each 17 Purchase 73 units
Novak has the following inventory data:
Nov. 1 | Inventory | 37 units @ $7.30 each | ||
8 | Purchase | 146 units @ $7.85 each | ||
17 | Purchase | 73 units @ $7.70 each | ||
25 | Purchase | 110 units @ $8.10 each |
A physical count of merchandise inventory on November 30 reveals that there are 122 units on hand. Ending inventory under FIFO is
$983.
$1932.
$1886.
$937.
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