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The following inventory transactions took place for Blossom Corporation for the month of May; Cost/ Selling Date Event Quantity Price May 1 beginning inventory
The following inventory transactions took place for Blossom Corporation for the month of May; Cost/ Selling Date Event Quantity Price May 1 beginning inventory 2,010 $3.50 May 5 purchase 5,010 3.70 May 10 purchase 4,010 3.80 May 15 sale 6,000 6.10 May 20 sale 2.023 6.10 May 22 purchase 3,980 4.00 May 24 purchase 1,980 4.00 May 25 sale 5,980 6.10 Calculate the ending inventory balance for Blossom Corporation, assuming the company uses a perpetual inventory system and the first-in, first-out (FIFO) cost formula. (Round the final answer to O decimal places, e.g. 5,275) Ending inventory
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