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Windrose, Inc. uses a periodic inventory system and its inventory records contain the following information: Units Beginning inventory: Purchased on May 10 Purchased on June
Windrose, Inc. uses a periodic inventory system and its inventory records contain the following information: Units Beginning inventory: Purchased on May 10 Purchased on June 15 Purchased on August 28 600 800 1,000 600 3,000 Total Cost $1,560 2,340 2,520 1,980 $8,400 The company sold 2,000 units during June. There were no additional purchases or sales during the remainder of the year. The company had 1,000 units were in its ending inventory at the end of the year If Windrose uses the FIFO costing method, what is the cost of its ending inventory? Multiple Choice $5,160 $4,580 $5,412
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