Homework answers / question archive / The inventory records for Cookie Co

The inventory records for Cookie Co

Finance

Share With

---

The inventory records for Cookie Co. reflected the following:

Beginning Inventory @ July 1

200 units @ $1.00

First Purchase @ July 8

300 units @ $1.10

Second Purchase @ July 15

400 units @ $1.20

Third Purchase @ July 26

100 units @ $1.30

Sales @ July 31

800 units @ $1.50

Determine the amount of ending inventory  assuming the FIFO cost flow method.

$130

$200

$250

$100