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Sanfillipo, Inc

Accounting

Sanfillipo, Inc., had 800 units of inventory on hand at March 1 of the current year, costing $20 each. Purchases and sales of inventory during the month of March were as follows:

 

Date Purchases Sales

 

March 8  600 units

March 15 400 units @ $22 each  

March 22 400 units @ $24 each  

March 27  400 units

 

Sanfillipo uses the periodic inventory system. According to a physical count, 600 units were on hand at the end of March.

 

The cost of inventory at the end of March applying the FIFO method is:

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