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The following lots of a particular commodity were available for sale during the year: Units Unit Cost Total Cost Beginning 5 $10 $50 inventory
The following lots of a particular commodity were available for sale during the year: Units Unit Cost Total Cost Beginning 5 $10 $50 inventory First 5 $12 $60 purchase Second 5 $14 $70 purchase Third 5 $15 $75 purchase A business uses a periodic inventory system sold 15 units during the year. Assuming the cost of the units sold were based on FIFO, $10/unit, $12/unit, $14/unit and $15/unit, the total cost of ending inventory is $
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