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RJ Corporation has provided the following information about one of its inventory items: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 424
RJ Corporation has provided the following information about one of its inventory items:
Date | Transaction | Number of Units | Cost per Unit | |||||
1/1 | Beginning Inventory | 424 | $ | 3,240 | ||||
6/6 | Purchase | 824 | $ | 3,620 | ||||
9/10 | Purchase | 1,224 | $ | 4,020 | ||||
11/15 | Purchase | 824 | $ | 4,080 | ||||
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During the year, RJ sold 3,010 units.
What was ending inventory using the FIFO cost flow assumption under a periodic inventory system?
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