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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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