Suppose that Target Corporation uses the periodic inventory system to account for inventories and has the following information at October 31. October (a) 1 8 16 24 Beginning inventory Ending inventory Purchase Purchase Purchase 400 units @ 800 units @ $16.40 = 600 units @ $16.80 = $17.60 200 units @ Total units and cost 2,000 units $ $16.00 = = $6,400 13,120 10,080 3,520 Determine the ending inventory using the FIFO cost assumption if 500 units remain on hand at October 31. $33,120

Suppose that Target Corporation uses the periodic inventory system to account for inventories and has the following intormation at October 31. (a) Determine the ending inventory using the FIFO cost assumption if 500 units remain on hand at October 31. Ending inventory