Stokes Corp. (SC) is a retailer of office equipment. The company uses a periodic inventory system and on October 1 had 2,000 units

of inventory with a total cost of $60,000. Oct 10, SC purchased 1,000 units for $32,000. Oct 15, SC sold 2,600 units at $40 per unit.

What is the value of ending inventory as of Oct 15 sales if SC is using FIFO?

Stokes Corp. (SC) is a retailer of office equipment. The company uses a periodic inventory system and on October 1 had 2,000 units of inventory with a total cost of $60,000. Oct 10, SC purchased 1,000 units for $32,000. Oct 15, SC sold 2,600 units at $40 per unit. What is the value of ending inventory as of Oct 15 sales if SC is using FIFO? 8,800 10,000 12,000 12,800