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We have the following transactions for September Date Purchases Date Sales September 1 (opening inventory) 700 @ 4.50 September 2 500 @ 7.00 September 5

We have the following transactions for September

Date Purchases Date Sales
September 1 (opening inventory) 700 @ 4.50 September 2 500 @ 7.00
September 5 2,000 @ 4.00 September 8 1,700 @ 6.50
September 10 1,400 @ 4.20 September 12 1,100 @ 6.00
September 15 1,600 @ 4.30 September 17 800 @ 6.50
September 20 700 @ 5 September 23 600 @ 7.00

Under FIFO method, when company follows a periodic inventory system, the ending inventory (in ) is A. None of the others B. 4,790 C. 5,000 D. 4,300 E. 4,650

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